• Principles

  • Life and Work
  • De : Ray Dalio
  • Lu par : Ray Dalio, Jeremy Bobb
  • Durée : 16 h et 5 min
  • Version intégrale Livre audio
  • Date de publication : 19/09/2017
  • Langue : Anglais
  • Éditeur : Simon & Schuster Audio
  • 4.5 out of 5 stars 4,7 (38 notations)

Description

Ray Dalio, one of the world's most successful investors and entrepreneurs, shares the unconventional principles that he's developed, refined, and used over the past 40 years to create unique results in both life and business - and which any person or organization can adopt to help achieve their goals.
In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and has grown into the fifth most important private company in the United States, according to Fortune magazine. Dalio himself has been named to Time magazine's list of the 100 most influential people in the world. Along the way, Dalio discovered a set of unique principles that have led to Bridgewater's exceptionally effective culture, which he describes as "an idea meritocracy that strives to achieve meaningful work and meaningful relationships through radical transparency". It is these principles, and not anything special about Dalio - who grew up an ordinary kid in a middle-class Long Island neighborhood - that he believes are the reason behind his success.
In Principles, Dalio shares what he's learned over the course of his remarkable career. He argues that life, management, economics, and investing can all be systemized into rules and understood like machines. The book's hundreds of practical lessons, which are built around his cornerstones of "radical truth" and "radical transparency", include Dalio laying out the most effective ways for individuals and organizations to make decisions, approach challenges, and build strong teams. He also describes the innovative tools the firm uses to bring an idea meritocracy to life, such as creating "baseball cards" for all employees that distill their strengths and weaknesses and employing computerized decision-making systems to make believability-weighted decisions. While the book brims with novel ideas for organizations and institutions, Principles also offers a clear, straightforward approach to decision making that Dalio believes anyone can apply, no matter what they're seeking to achieve.
Here, from a man who has been called both "the Steve Jobs of investing" and "the philosopher king of the financial universe" (CIO magazine), is a rare opportunity to gain proven advice unlike anything you'll find in the conventional business press.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio.
©2017 Ray Dalio (P)2017 Simon & Schuster Audio
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Plus utile
2 out of 5 stars
Auteur(s) : Pierre Gauthier le 31/03/2018

Disappointing!

In this lengthy work, Ray Dalio, the founder and principal owner of the Bridgewater investment firm, publicly shares the principles behind its undeniable success: radical transparency and radical meritocracy.

Though the author claims the contrary in the introduction, the most interesting part of the book is by far the long professional autobiography that makes up the first section.

Sadly, the principles themselves which are presented in the following chapters are too numerous, repetitive and plainly confusing. They remain abstract, very few examples of their application being provided. Overall, the train of thought and general organization is very difficult to follow.

This is particularly true in the audio format, despite the massive PDF that is provided and that connects imperfectly with what is heard. In addition, narration shifts, according to no discernible pattern, from the author himself to a professional reader. These factors give a regrettable amateurish tint to the audiobook.

Also, one wishes the author were more explicit on many points. How practical and truly useful is it to have recordings of all meetings in a firm with 1500 employees available to all? Why does he trust so much psychology which many see as a pseudo-science? Why did he locate his financial firm in suburban Connecticut rather than in Manhattan? How actually connected is the author with the daily operations of his company?

In the end, one wonders if the whole book is not an indulgence to the firm’s founder who recently retired and an investment to maintain its mystique.

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5 out of 5 stars
Auteur(s) : Massimiliano Neri le 06/11/2017

Outstanding catalog of principles

The point is not if you agree with these principles, but rate to explain how the author came up with his principles, and you can develop your ones.

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