Principles – by Ray Dalio (retired Bridgewater Hedge Fund founder & CEO)
Autobiography: Ray Dalio pub. 2017, ≈592 pp.
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What I learned from this book
I learned that when someone as successful as Ray Dalio tells the reader that he already has “all he or she needs in life” – with good health, good relationships (family, especially) and integrity in the workplace – it may time to listen to him and stop feeling like life is always wresting everything away.
What I liked about this book
I liked most the candidness of most everything the author shared. Whether it was his early ‘mistakes’ – like getting fired for punching an early career boss – mistakes and oversights he made as CEO, or the struggles of fatherhood and his interpretation of the work-life balance. Mr. Dalio was much more “down to earth” than most of the big CEO autobiographers we have become accustomed to on Wall Street.
What I disliked about this book
The only thing I thought I disliked about the book in the beginning was the graphs the author used. They – at first sight – seemed too simplistic. However, once the author fully explained their origins in the way that the graphs worked for him and his firm, it made much more sense as to how and why they became one of the features of the book. In fact, one of the points that Ray Dalio drives home to his reader is that he prefers to get his message across in the simplest way possible. He doesn’t seek to dazzle his audience with his message – just that they get what he means and moves on to the next point.
Whom would I recommend to read this book
This book is a great read for any “aspiring or current businessperson” who wants an unfiltered, forthright and thorough examination of what it takes to do the right thing in business – whether in the middle of the fierce Wall Street jungle – or, in the tamer confines of 123 Main Street.