Principles by Ray Dalio

Ray Dalio is one of the most successful investors, leaders, managers in our modern time with solid principles. Ray is as humble as they come; however he decided to put his principles down on paper. These are the principles that have both driven him as a person as well as his company to become one of the most respected and successful in the world. I’ve heard many successful businessmen and women refer to Ray over the years and was looking forward to diving into this book written by the man himself!

This is the type of book that I’m glad I have read. With that said I would have benefited more from if I had of picked it up earlier in my career. It is jam packed full of information on what principles are important in both life an the workforce. Dalio breaks down both financial/investment principles as well as organisational principles. Whilst they are both very good I enjoyed the organisational aspects much given my passion (and my understanding of the topics presented).

The book is extremely long however it was easy to pick it up from time to time and know where I was at. I feel it will be something I will pick up on occasion for the rest of my life.

Note: I am currently reading James Comey’s book “A Higher Loyalty.” What I found interesting is that Comey was General Counsel for Bridgewater for a few years. Politics and scandals aside, given what I have read in Comey’s book, I’m not surprised he is a product of Bridgewater.

Three key takeaways from the book:

1. Culture and people are symbiotic: The culture attracts certain kinds of people and the people in turn reinforce or evolve the culture based on their values and what they like. If you choose the right people with the right values and remain in sync with them…. magic happens! If you choose wrong then you will all go over the waterfall together.
2. Most organisations are terrible at recruiting. Choices are made on who they like (and are like the interviewer) versus matching values, skills and ability with the organisation culture and career paths.
3. Root causes are not an action but a reason. Root causes are described in adjectives, not verbs therefore one must keep asking “why” to get to them.