Principles
By Ray Dalio
Ray Dalio is founder of the 5th most important private company in the United States, Bridgewater Associates, which is an investment firm who has made more money for its clients than any other hedge fund in history. How did he do it? He created a strong set of principles that lead him and his team to success. Started as just a company bulletin where he would share his thoughts as a leader, and now packaged into a book that anyone can pick up and read, Principles takes a look at the life of Ray Dalio in order to help your own. You’ll find out more about his meteoric rise in finance, and take away a few golden nuggets of info for your personal and professional life from one of the best in the business.
“I learned that if you work hard and creatively, you can have just about anything you want, but not everything you want. Maturity is the ability to reject good alternatives in order to pursue even better ones.”
Thoughts
Ray Dalio was someone who I was unfamiliar with. I was searching for a book that was both business focused and would also teach me a thing or two about life. Principles fit the bill quite well. In the first half of this book you learn all about the life of Ray Dalio and acts as a memoir to set the stage for all of his wisdom which comes in the second half. Although he is well known in financial circles, I was totally unaware of this guy so the intro was welcome despite being a bit lengthy. Having this context the reader gets way more out of the principles touched on in the later chapters. Dalio’s experience in the financial field is fascinating especially dealing with commodities, but what I found most impactful was his view on things over a long period of time whether it be months to years. When I started out investing my strategy was to look for quick incremental gains, and not thinking long term so it was good to learn from someone who has been playing the long game for years. Then on the personal side he has a lot to say about maturity like taking time to address all of the options before taking the first thing that comes. Words to live by, and something I again have not done enough of. Pick this up if you need some wisdom in your life.
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