Principles by Ray Dalio

2/∞

 Rating: ⭐️⭐️⭐️⭐️⭐️

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I have read this book a while ago. It was recommended to me by a good friend. Obviously, back then I had no idea who Ray Dalio was (e.g. 69th richest man in the world) and I was barely interested in making investments.

As I carried on through life, I started to hear more references about Ray Dalio. For example, he appeared in Jay Shetty’s podcast. I did not find that particular episode very interesting, because I have already read a book and to be honest it is the same as with Harry Potter. If you have read the book and you are going to watch the movie, there is a big chance you will to be disappointed. In case you will want to listen to the podcast first and see if the book is worth reading, the episode is called: Ray Dalio: On how to define success for yourself and set your goals by Jan Shetty.

Now, to the book! The book is divided into 3 main parts. 1) Where I’m coming from, 2) Life Principles, 3) Work Principles.

Part I

In the first part Dalio talks about his childhood and how he came about to become an investor. In the shortcut: as a little boy, he bought some stock, earned money, seemed good, became an investor, lost almost everything, brushed the dust off and implemented principles for it to never happen again. I found this part the most authentic and interesting.

Part II

In the second part he speaks about principles and their applicability on life. Now it gets even more interesting. One of the principles I have created for myself was that I will never ever drive a motorcycle in the rain. Why? Because it is slippery. Anytime I had an accident, it was always in rain and the repair was about 500 EUR. Any time I broke my principle I was destined to pay another 500 EUR.

Principles are applicable on investing and Ray Dalio mastered the way he is using them. Initially, principles were a list of does and not does when investing. Later on, they got converted into a computer program, which is making investments leaving out the human intervention. Anytime, the computer program is wrong, the list of principles gets reviewed and outdated principles get replaced or altered by the new ones.

Part III

In the third part Dalio speaks about how to implement the idea of principles into a company. In the times I had my own company it might have came really handy. Therefore I would recommend the third part especially to people who are running companies and want to get inspired and improve the internal processes.

⭐️⭐️⭐️⭐️⭐️

👉 Buy this book! 👈 through my link and help me build this website! 😊

Coming up next:

ONE PLUS ONE EQUALS THREE: A MASTERCLASS IN CREATIVE THINKING BY DAVE TROTT

Alright ladies and gents! That was Ray Dalio. I wish you loads of fun by reading the book, feel free to share and comment!

🥳 🥳 🥳

Peace