When I first began reading it, I rather liked it. He writes about his middle-class upbringing, the loss of his mother when he was still a teenager, and his early exposure to the stock market. Precise, practical advice. Principles is like a modern day Meditations aimed at professional and career development. It's a 500+ page book for those who want to rise to the top, who want to become more efficient at making decisions, and who sometimes feel lost when thinking about their values. This is a wonderful induction into his attitudes towards people and business, and would be a perfect read for someone wanting to start a business. How to run a meeting, how to recruit staff. This book is a bit disappointing. One day I’d like to write a Part 4 on my investment principles. I called it the “Holy Grail of Investing” because it showed the path to making a fortune. His new book is more significant than the original list of principles: It is part memoir, part how-to guide. To see what your friends thought of this book. Also, Meditations is way better. It's like a crash course in radical management theory. The only thing Ray didn't get was that having hundreds of rules is too many to live by. I also liked the idea of it: a successful man who has attempted to identify the specific habits or behaviors that enabled his success. Chapter Intro My Background China’s Giant History in Brief China’s Lessons and Its Ways of Operating From 1800 until Now The Decline from 1800 until 1949 Enter Marxism-Leninism Phase 1, 1949 to 1976: The Mao Phase of Building the Foundation Phase 2, 1978 to 2013: The Deng and Deng Successors Phase of Gaining Strengths Through Economic Reforms and Opening Up Without Creating … That gives the book some of its charm. There is much to like about this book. I was between 4 and 5 stars for this one. (Original work published 1949) Ralph Tyler’s (1949/2013) Basic Principles of Curriculum and Instruction great ideas and workflows: view organization as machine, ok to remove yourself once don't fit anymore, checking yourself and your ideas against the reality and the nature, ability to overcome short term pains to achieve long term advantages is how the nature designed the evolution. I'd say what's useful about this book are the specific practices that he shares about leadership and management in the appendix, which can be some sort of repository of brainstorming material for one's own use. Overview. I'm a big fan of Ray Dalio. The book provides a comprehensive view of what Reiki is and how it can be applied in everyday life. He divided those principles into life principles and work princ. Those looking to derive their own principles will find admonitions to do so, but little help. Part 3, explains my management principles as they are being lived out at. This book is a bit disappointing. I am in charge of the sales division in a high tech company, if a principle can lead me to good revenue numbers it’s a good principle. T oday, I review a renowned book titled The Lean Startup by Eric Ries which is a method to develop and manage startups.. It’s fair to say that The Lean Startup by Eric Ries transformed the world as we know it. Because I don’t think most people are reading it like that, I am worried that this book will do more harm than good. “Everything you think, say, and do needs to become intentional and aligned with your highest purpose, your values, and your goals.” 3. Very specific details. I would say I would rate it with 4.5, but when I was editing my notes I realized the big number of notes I had and decided to go for 5 stars. This is one of the most important books that I have read this year. Add this to the list of books that I wish were around when I was 20 years younger. I'm a big fan of Ray Dalio. Join me on a thought-provoking adventure in my new animated mini-series, Principles for Success. 3. Principles is a long book, but conversational and digestible throughout. To write a book review, start with a heading that includes the book's title, author, place of publication, publisher, date of publication, and number of pages. Overall, though, there are some interesting tidbits on business, and personal success that make this worth skimming through. I love how Ray Dalio gamifies his life. Some good insights but too repetitive at times. That logic is typically shared with and vetted by the people in the company to help its objectivity and believability. There is no doubt that Ray Dalio. It's not terrible, but it's not terribly insightful either. . Highly recommend the printed book, it's beautifully designed and worth the higher price tag. Goodreads helps you keep track of books you want to read. There's also some unsavory details about life as a hedge fund king, such as hiring strippers for company parties. It’s up to you to decide what you want to get out of life and what you want to give. Dalio lists about two hundreds very healthy work and management principles. You can probably read it in an. I felt liberated after reading Principles. Part 3, explains my management principles as they are being lived out at Bridgewater. I'd say what's useful about this book are the specific practices that he shares about leadership and management in the appendix, which can be some sort of repository of brainstorming material for one's own use. Listened to this on Audible and it worked well with him narrating most of the book. Part 1 is about the purpose and importance of having principles in general, having nothing to do with mine. Start by marking “Principles (Summary)” as Want to Read: Error rating book. Believe in Yourself. In addition, I don't think I have ever read a book in which I was confronted with so much arrogance. “Principles is the book I wish I had as a young Entrepreneur ” Mark Cuban “Principles by Ray Dalio is a masterpiece — It’s a must read! I am now doing the same for management and I have gotten in the habit of doing it for all my decisions. It's like a crash course in radical management theory. He also talks about people in organizations where he states that hiring is one of the most important decisions you make. About the book – Ray Dalio’s Principles – Life and Work In 1975, when Ray Dalio was 26 years old, he founded an investment firm in his two-bedroom apartment. It’s only about 55 pages of a normal size book. Then I turn them into algorithms. #1 New York Times Bestseller. ", "of all approaches to decision making, an idea meritocracy is the best.40 It’s almost too obvious to warrant saying, but I will anyway: Knowing what you can and cannot expect from each person and knowing what to do to make sure the best ideas win out are the best way to make decisions. #1 New York Times Bestseller. Consistency rating: 5 There are no consistency issues that I found throughout the reading of this book. Errors in judgment "Principles" reads like a modern-day Meditations, except the content is largely written for a professional/work context. Mostly though it's about values. With any luck, the author of the book worked hard to find the right words to express her ideas. It feels that the author uses these terms in a dot-com bubble fashion, not really elaborating on what he means with these and leaving the reader/listener with the impression that he doesn't really know what he is talking about in these instances. please sign up This is a book I would wholeheartedly recommend to managers and leaders, but I would also caution them to read with an extremely critical eye. Also the following: Finished the audible version of this book. The second success principle is another key one. Ray Dalio examines his life in prose that is often honest and straightforward, often bordering on the conversational and vernacular. 2. However, the ideas of Alertness, Decisiveness, Aggressiveness, Speed, Coolness, Ruthlessness, and Surprise inside this book could take years to fully digest. While various Scriptures give this impression, Origen shows that they are metaphors. They put the ego aside and put the feet down to earth, like Dalio. If he succeeds, he'd gain a gem in the form of a principle. Idea-meritocratic decision making is better than traditional autocratic or democratic decision making in almost all cases. There have been many gems throughout his life, and he compiled and shared them in this book. Principles: Life and Work. “To achieve desired outcomes, one must replace complaining with making requests and taking action.” In speaking about culture, he values an environment of where the truth can be freely told, failure is accepted, and ability to get and give feedback. 2. Marketed as the only introduction book on Reiki you would ever need, Thorson’s Principles of Reiki does not disappoint. My biggest takeaway from this reading is summed up in this quote. You can and should point out shortcomings or failures, but don’t criticize the book for not being something it was never intended to be. I'm putting this down at 43%. Ray Dalio showed us, that in order to build a successful hedge fund it’s not enough to follow your intuition. ", "As Bridgewater’s system currently exists, everyone is allowed to give input, but their believability is weighted based on the evidence (their track records, test results, and other data). Principles. by www.bwater.com. I was especially interested in his comment about having put the principles into a computer so that he could have software make the same decision and then compare the results to what he and his team came up with, so that any differences could be resolved and the rule base improved. You can probably read it in an afternoon. One of the best books i have ever read. This is a wonderful induction into his attitudes towards people and business, and would be a perfect read for someone wanting to start a business. In addition, I noticed the vague use of terms such as 'algorithms' and 'AI' throughout the book. 5.0 out of 5 stars Exceptional Book - 6 Stars. 1. Definitely a book geared toward business but for me, the potential applications are vast. What these books lack in elegant prose, they more than makeup for in practical wisdom. The main theme is that finding truth is the best way to make decisions, and that ego, emotion, and blind spots prevent you from discovering the truth. All these dots are analyzed via computerized algorithms based on stress-tested logic in order to create pointillist pictures of what people are like. We’d love your help. Raymond Dalio (born August 8, 1949) is an American investor, hedge fund manager, and philanthropist. I'm not entirely sure why this book made waves. ", Whenever I make an investment decision, I observe myself making it and think about the criteria I used. Without question, Ray Dalio has a knack for figuring out ways to make money using financial instruments, in particular via hedging strategies on commodities. But there isn't anything really groundbreaking - just the run-of-the-mill self-help/management guru spiel dressed in a different arrangement of words and even equations. I read this book again because it has been recommended to me as the “best book on learning how to be effective.” So far, I agree. We then capture these pictures in Baseball Cards, which are a simple way of presenting a person’s strengths and weaknesses and the evidence behind them (in much the same way as a baseball card does for a professional baseball player). Overall, I'm having trouble understanding the hype around this book except that the author is super-rich. 4.75 rounded up to 5. The author starts the book by giving the reader a background on who he is and how he arrived at the principles that were outlined. “First Principles” ends with a list of 10 steps we might take to combat our present political ills. Read it twice. The first book of On First Principles begins by disproving the idea that God exists materially. Published September 19th 2017 by Simon Schuster Audio (first published 2011. good and compressed base for entrepreneurs and then the list of 200+ principles for the Bridgewater organization. I'm not entirely sure why this book made waves. Dalio's own hedge fund has struggled with new leadership, after his departure as CEO, highlighting again that there are some ingredients to success that are hard to quantify and replicate. There is some pretty left of field tactical things in here. Maybe that's only odd to me. “Significant...The book is both instructive and surprisingly moving.” —The New York Times. When I first began reading it, I rather liked it. As you read this book, you feel as if you are talking with Ray in his office or in a restaurant. If you are looking to get the most bang for your buck (i.e., understanding for the effort), I suggest that you read Parts 1 and 2, and the beginning of Part 3 (through the Summary and Table of Principles) which will give you nearly the whole picture. The concepts, theories and general knowledge delivered in this book as exactly what one would expect to find in a good Principles of Management book. The funniest part was when he talked about his favorite book, Joseph Campbell's man of a thousand faces. Dalio’s most recent book is Principles. The book is … All Bridgewater members know each other's preferences and non-preferences. Sometimes there are principles which are sabotaging your life due to not being optimal for achieving certain results in life. The funniest part was when he talked about his favorite book, Joseph Campbell's man of a thousand faces. Precise language allows you to control the tone of your review. Reading Principles, I realized the importance of having principles in life and work, iterating decision making process and building a machine that can help you navigate through life. Ray Dalio is founder of Bridgewater Associates, the largest hedge fund in the world. Along the way, he shares how he used his mistakes to learn and evolve. It was so simple but it would be such a breakthrough if the theory worked as well in practice as it did on paper. Ray Dalio examines his life in prose that is often honest and straightforward, often bordering on the conversational and vernacular. Think of it like hundreds of Twitter sized suggestions on how to run a company. Massive waste of time. The book is divided into three parts. Basic principles of curriculum and instruction with Forward by Peter S. Hlebowitsh. To his credit, Dalio is quite candid about his life, including his family, in this book, showing a vulnerability in describing the family's struggles with his son's depression, for example. Ray's collected all the Rules for Living and Working you could ever possibly need, and arranged them in clusters, subgroups, and units for easy perusal. He divided those principles into life principles and work principles. “It is far more common for people to allow ego to stand in the way of learning.”, http://www.bwater.com/Uploads/FileManager/Principles/Bridgewater-Associates-Ray-Dalio-Principles.pdf, Readers' Most Anticipated Books of December. “Significant...The book is … As an example, Dalio details how proud he was early in his career, in helping McDonald's create chicken nuggets, by creating financial hedging instruments for the chicken suppliers to weather fluctuations in chicken feed and other costs. As you read this book, you feel as if you are talking with Ray in his office or in a restaurant. Benjamin Franklin's autobiography and "Meditations" by Marcus Aurelius are other great exa. ", if they are considering a merger of one group, "In addition to collecting “dots” about people in meetings, we collect data on our people in numerous other ways (reviews, tests, the choices people make, etc.). Welcome back. The result, Ricks’s new book, “ First Principles,” is a rich compendium of the ancient wisdom that Washington, Adams, Jefferson and Madison believed … Amazing read, pretty phenomenal gift of knowledge from Ray Dalio. For example, early in the book, he describes his interest in meditation, stating how his friend Steve Jobs loved meditation, he tried meditation too, it's been good for him! I ask myself how I would handle another one of those situations and write down my principles for doing so. I like his book cause he is the unpredictable one that can lead to good results. Without question, Ray Dalio has a knack for figuring out ways to make money using financial instruments, in particular via hedging strategies on commodities. Your endorsers don’t want to take a lot … That’s Malala Yousafzai, Pakistani human rights... Abstract: What follows are three distinct parts that can be read either independently or as a connected whole. While the title is Principles, most of the discussion is about Dalio’s experience and principles. Think about those criteria when you have an outcome to assess, and refine them before the next “one of those” comes along. 2011 "Principles" reads like a modern-day Meditations, except the content is largely written for a professional/work context. It's all here, and most of it is very, very wise. That gives the book some of its charm. Although the first part of the book isn’t necessary to understand the principles, it does offer an interesting glimpse into how he started investing in the stock market: he initially bought shares of Northeast Airlines simply because th… For these reasons, we can comfortably situate this book with other autobiographies/life lesson books. Finally, a few general considerations: 1. Review the book in front of you, not the book you wish the author had written. But he is likely no more a model of how to live one's life than those who have done great work in less lucrative fields. Tyler, R. (2013). This book is really an instructional manual for the clueless, or the nerdy, or people who have spent their lives staring at their mobile phones. Clearly both Dalio & Bridgewater aren’t for everyone but there’s so much education in this book for us all in both personal and professional development. Good general principles, with somewhat weak reasoning behind them, and a sprinkle of self promotion in between. Principles is a book primarily about Ray Dalio and his company Bridgewater Associates. I'm giving it 5 stars for the big ideas and uniqueness of them - though I will warn you that the b. Amazing book, must read for anyone who has to make decisions in life - that means everyone - but I think the more impact your decisions have the more useful his frameworks are. Before I go much further in reviewing Principles, it may be helpful to review Ray's agenda in publishing the book, as it helps to understand what this book is and what it is not. Plus, it's a funny thing in America that we hold up people who have made a lot of money through the finance world as models for us to look up to, a la Warren Buffett. It feels that the author uses these terms in a. The book further delves on the on the nature and history of Reiki as well as how it is taught and practiced. Abstract: What follows are three distinct parts that can be read either independently or as a connected whole. This part of the book is good … It should indeed be about finding the truth, and being radically transparent and honest in this worthwhile quest. The utility of the content in the book is worth 5 stars but I'm docking a star for the smarmy tone within the historical section about early Bridgewater and early-career Dalio. In addition, I don't think I have ever read a book in which I was confronted with so much arrogance. Ray Dalio provides brutally honest and transparent inside look at one of the most innovative investment companies in the world. There have been many gems throughout his life, and h. I love how Ray Dalio gamifies his life. Bridgewater Associates uses the Myers-Briggs Type Indicator (MBTI) system (which I wrote about in an earlier article). Not sure many other people would take pride in helping make chicken nuggets a reality! Never hesitate to challenge an assumption, approach, or argument. I also liked the idea of it: a successful man who has attempted to identify the specific habits or behaviors that enabled his success. Dalio read it as a life map and self-help book. A few years back I read The Success Principles: How to Get From Where You Are to Where You Want to Be by Jack Canfield for the first time, and since I have re-read the book at least once a year.. Jack Canfield, the author of The Success Principles, is regarded as Americas #1 Success coach. Let us know what’s wrong with this preview of, Published A New York Times bestseller, The Lean Startup model is a global phenomenon, faithfully used by individual entrepreneurs and huge companies around the world — to astonishing results. I mostly find myself agreeing with him. It’s much wiser to follow a set of principles that will guide you and protect you from bad decisions. There is much to like about this book. Like he read about the hero's journey and thought it was about him? For these reasons, we can comfortably situate this book with other autobiographies/life lesson books. Also (as I do for most books these days) I read it with a combo of Kindle ebook and Audible, and Ray reads the first half of the book himself, and given that part is more backstory/bio, It's much more powerful to hear it in his voice. It's not terrible, but it's not terribly insightful either. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds. In addition, I noticed the vague use of terms such as 'algorithms' and 'AI' throughout the book. Mostly though it's about values. Refresh and try again. In this 500-plus page book, the author chronicles his mistakes and setbacks in life. Responsible Parties can overrule believability-weighted voting but only at their peril.". It is a deeply personal story, with Mr. Dalio wading into how he started his firm in 1975, internal conflicts inside the company, and strife early on in his career. The first half of the book is Dalio bragging about his achievements, but trying to stay humble while doing it. You should attempt to do the same. I'm giving it 5 stars for the big ideas and uniqueness of them - though I will warn you that the book is very long and highly repetitive - there is probably a way to read only parts of it and still get all the big ideas. I picked up this book out of an interest in gaining business insights from a successful entrepreneur and financial leader. He brings this up early, but never goes into any specifics on how the rule base is structured, the technology, or what the inputs would be to such a generalized decision making system. Part 2 explains my most fundamental life principles that apply to everything I do. Really found this helpful since it talks about actual systems and processes used in Bridgewater — ones that deal with how to manage team members correctly and effectively. We all make mistakes. But there isn't anything re. He treats his failures as puzzles or missions where his goal is to reflect on the pain and get to the root of the problem. Chicago, IL: University of Chicago Press. I was especially interested in his comment about having put the principles into a computer. There are some really interesting ideas in this book and makes me wonder if there are other companies and organizations that pursue "idea meritocracy" out there in the world. ", "That simple chart struck me with the same force I imagine Einstein must have felt when he discovered E=mc2: I saw that with fifteen to twenty good, uncorrelated return streams, I could dramatically reduce my risks without reducing my expected returns. Part 1 is about the purpose and importance of having principles in general, having nothing to do with mine. What I walk away from, though, is that it is difficult to quantify or create an algorithm for success, as many of these principles try to outline. This book was fantastic and extremely organized. What I like most about is that Ray actually wrote down the detailed steps - many of which I can apply. As I read books from my morning reads, which are business and personal development books, I’ve started the habit of capturing notes from them. Dalio read it as a life map and. Principles Review. : Ray Dalio. Modularity rating: 4 The book covers both his personal and professional life so it was surprising how much he opened about in the book. Clearly, the belief is that having the right community environment will ensure that all members can admit where their non-preferences are (their weaknesses or blind spots), and other members can support them without resistance. Seems almost typical origin story of a successful organization and personalities, the likes of Facebook and Amazon. 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 forty years to create unique results in both life and business—and which any person or organization … TL:DR: You can just watch my summary here: Amazing book, must read for anyone who has to make decisions in life - that means everyone - but I think the more impact your decisions have the more useful his frameworks are. Overall, it contains good ideas but I would have preferred a longer Medium.com blogpost which would have meant less repetition. Principles by Ray Dalio has so many insights all packed into one single book that it’s crazy. Book review: Principles. If you don't believe in yourself, … How to run a meeting, how to recruit staff. Removing this book will also remove your associated ratings, reviews, and reading sessions. He tries to detail many personal as well as business principles that led to his (and his hedge fund's) success. There is no doubt that Ray Dalio is an intelligent person who has learned a lot through creating a company and leading and growing it over decades. If he succeeds, he'd gain a gem in the form of a principle. He needs to reduce them to, say, the ten most important. Slow down your thinking so you can note the criteria you are using to make your decision. Impressive. 513 reviews. One of my favorite discoveries in 2017 - Ray Dalio and his Life and Work Principles. “If you want to be successful, you have to take 100% responsibility for everything that you experience in your life.” 2. 1. Benjamin Franklin's autobiography and "Meditations" by Marcus Aurelius are other great examples. It’s much wiser to follow a set of principles that will guide you and protect you from bad decisions. To see what your friends thought of this book, I'm still deeply skeptical of the "idea meritocracy" and Ray Dalio himself, as I'm suspicious that many of his ideas are in practice used as excuses for being an asshole, and like all versions of meritocracy, is likely to have deep implementation flaws that cover up bias with a veil of objectivity. The author is clearly very successful so maybe it was the tone of the audiobook -- not sure. He treats his failures as puzzles or missions where his goal is to reflect on the pain and get to the root of the problem. Very specific details. First, there is much expanded version including Ray Dalio's biography: Absolutely fantastic. “Let us remember: One book, one pen, one child, and one teacher can change the world.” - Personally, what I love is the reinforcement of the principles of 'radical transparency & idea meritocracy' that are the solid pillars of this book. Plus, it's a funny thing in America that we hold up people who have made a lot of money through the finance world as models for us to look up to, a la Warren Buffett. Write the criteria down as a principle. TL:DR: You can just watch my summary here: Amazing. I listened to most of the audiobook at 1.5x speed. The author is clearly very successful so maybe it was the tone of the audiobook -- not sure. Since my management principles are simply my most fundamental life principles applied to management, reading Part 2 will help you to better understand Part 3, but it’s not required—you can go directly to Part 3 to see what my management principles are and how Bridgewater has been run. Regarding the details of business and the hedge fund industry, I walk away with more affirmation of my view of this as a shallow endeavor. In the review of Principles: Life and Work, the book that has been officially published in September 2017, anyone who is at least slightly interested in finding the elemental principles of success and wealth in work/business and life, I believe that this book will be … 3. Program by which you are operating is not necessarily yours. B… So maybe no one wants to contradict him, or even edit his writing for rampant redundancies. Being an independent thinker is liberating. It’s one of the best books I have read about people and psychology, one of the best books I have read about business, one of the best leadership books and by far the best book I have read on how to shape a company culture. For example, in 2006 Dalio took the MBTI and learned that "intuiting people" tended to look a… Leave a reply. Brainwashed: The Seductive Appeal of Mindless Neuroscience, "The key to doing this well is to: 1. So far, managing team members has been the most challenging part of my duties, and this book pretty much covers solutions to these challenges. Other factors that led me to give this book a modest rating - the writing is at times almost childish. I read that book as an interesting work of comparative myths across cultures revealing common themes in humanity and the struggle of life. Part 1 is about the purpose and importance of having principles in general, having nothing to do with mine. 3 Reviews. Need some help planning your summer reading? Abstract: What follows are three distinct parts that can be read either independently or as a connected whole. Dalio doesn't hide behind his failures, or the pain, and is unsurprisingly forthright the book. It’s just 60 pages long, and reads very quickly. What I walk away from, though, is that it is difficult to quantify or create an algorithm for success, as m. I picked up this book out of an interest in gaining business insights from a successful entrepreneur and financial leader. The utility of the content in the book is worth 5 stars but I'm docking a star for the smarmy tone within the historical section about early Bridgewater and early-career Dalio. Then, open your review with an introduction that includes the author's background as well as the main points you'll be making. Trial - Error - Reflection - Principles - System(Machine with Algorithm). “Principles of Personal Defense” is not a big book. A very well written book which elaborates the life lessons learned by the author. No bullshit. There is some pretty left of field tactical things in here. I'm certain I will return to the material and continue to dig out sometimes radical approaches to. Ray Dalio showed us, that in order to build a successful hedge fund it’s not enough to follow your intuition. Yet, Dalio wrote that if we have ambitious goals, we will also make even bigger mistakes. Overall, it contains good ideas but I would have preferred a longer Medium.com blogpost which would have meant less repetition. Raymond Dalio (born August 8, 1949) is an American investor, hedge fund manager, and philanthropist. Think of it like hundreds of Twitter sized suggestions on how to run a company. Not only are his life & work principles insightful and applicable to my life, but I walked away creating principles of my own for various aspects of my life following his framework. I wish more bright people wrote down their principles like Dalio did. Also, Meditations is way better. ” Marc Benioff “Compelling work” Jamie Dimon “Principles had a profound positive impact on my leadership style ” Reed Hastings “I found it to be truly extraordinary ” Tony Robbins In his book Principles, Dalio shares the guiding principles powering his success and Bridgewater’s.. Principles is a master class in rational thinking. Simon and Schuster, Sep 19, 2017 - Business & Economics - 567 pages. He tries to detail many personal as well as business principles that led to his (and his hedge fund's) success. Just a moment while we sign you in to your Goodreads account. I'm certain I will return to the material and continue to dig out sometimes radical approaches to my life and work, but I'm also pretty sure I'll never go cover to cover again. When sending your request for review, be specific and brief. I read that book as an interesting work of comparative myths across cultures revealing common themes in humanity and the struggle of life. Part 2 explains my most fundamental life principles that apply to everything I do. Already, I am using an "issues log", designing experiments, seeing every failure I make and every success I achieve as artifacts to analyze. Principles – Book Review […] Think and Grow Rich – Book Review – Financial Glass January 29, 2018 At 10:33 am Beyond Religion – Book Review – Financial Glass March 17, 2018 At 1:10 pm The first part discusses Ray Dalio’s personal background and provides a deeply personal insight into his life. His new book is more significant than the original list of principles: It is part memoir, part how-to guide. - The truthfulness; the bare-knuckle punches that extoll the reader to be honest, truthful & REAL are the parts that make this book glow. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds. I'm still deeply skeptical of the "idea meritocracy" and Ray Dalio himself, as I'm suspicious that many of his ideas are in practice used as excuses for being an asshole, and like all versions of meritocracy, is likely to have deep implementation flaws that cover up bias with a veil of objectivity.