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E-raamat: Principles: Life and Work

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  • Formaat: EPUB+DRM
  • Sari: Principles
  • Ilmumisaeg: 19-Sep-2017
  • Kirjastus: Avid Reader Press
  • Keel: eng
  • ISBN-13: 9781501124051
  • Formaat - EPUB+DRM
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  • Formaat: EPUB+DRM
  • Sari: Principles
  • Ilmumisaeg: 19-Sep-2017
  • Kirjastus: Avid Reader Press
  • Keel: eng
  • ISBN-13: 9781501124051

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The founder and co-chairman of the high-performing hedge fund Bridgewater Associates outlines the unconventional principles that he developed over four decades to create unique successes in his personal and professional arenas.

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 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 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.

Arvustused

Winner of the Axiom Business Book Award for 2018

Mr. Dalio has long been an object of fascination. . . . His new book is more significant than the original list of principles: It is part memoir, part how-to guide. 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 book is both instructive and surprisingly moving. . . . Underneath what may seem like a clinical, emotionless approach is something different and far more poignant: Mr. Dalio is preaching for individuals to have a sense of humility and introspection, an ability to open themselves to appreciate pointed criticism and use it to improve. The New York Times If there was an it book for businesses or careers in 2017, it was Ray Dalios Principles. The book, weighing in at nearly 600 pages, begins with the authors own story, including the rise of Bridgewater Associates, Dalios highly successful investment firm. Part memoir, part strategic plan, Dalio uses his own history to provide suggestions on attaining success while always stressing the power of individuality and personal goals. This isnt just a book for the power elite. Dalios highly detailed game plan focuses on what he calls radical truths and transparencies, and are applicable to the careers of powerful CEOs, ladder-climbing executives, longtime grunts, and fresh-faced rookies. Chicago Tribune Ray Dalio has provided me with invaluable guidance and insights that are now available to you in Principles. Bill Gates I absolutely loved this book. Its beautifully written and filled with such wisdom. Arianna Huffington I found it to be truly extraordinary. Every page is full of so many principles of distinction and insightsand I love how Ray incorporates his history and his life in such an elegant way. Tony Robbins Ray Dalios market acumen is legendary, but it was creating and living by a set of principles that allowed him to reach the top. Everyone with goals and dreams can learn from Rays approach. Michael Bloomberg Its important and instructive to share what youve learned in life with others, and Ray does this in an interesting and provocative way in this compelling work. Jamie Dimon I was surprisingly moved by it. I found it to be remarkably engaging. It made me think about life and how we all deal with each other in pretty profound ways. And Mr. Dalios own story about how he came to these principles is fascinating. Andrew Ross Sorkin The billionaire investor has created the strongest culture Ive ever seen in an organizationone that prizes radical transparency over politics and meritocracy over democracy. In his long-awaited book, he describes the systems that he has designed to shape meaningful work, meaningful relationships, and the worlds most successful hedge fund. Adam Grant I highly, highly recommend this book. It has already changed how I think about making decisions in my life and in my business. Tim Ferriss Its the book I wish I had as a young entrepreneur, stressing over not knowing what I didnt know. Principles offers a bible to the greatest skill an entrepreneur can have, the ability to Learn How to Learn in any situation. Read it. Mark Cuban Principles had a profound positive impact on my leadership stylethrough living more honestly. Reed Hastings Ray brings unique analytic insights about how to think about complex issues. His Principles is a must read. Its a gift to all of us. Steve Schwarzman          Among a handful of philosopher-investors known not only for moneymaking prowess but also for their distinctive take on life. The Wall Street Journal What makes Dalio compelling is not just his track record but the way he goes about making money, and the rigorous analysis he applies to understanding markets, organizations, the economy, and life. Fortune

PART I WHERE I'M COMING FROM
1 My Call to Adventure: 1949--1967
5(6)
2 Crossing the Threshold: 1967--1979
11(16)
3 My Abyss: 1979--1982
27(10)
4 My Road of Trials: 1983--1994
37(30)
5 The Ultimate Boon: 1995--2010
67(24)
6 Returning the Boon: 2011--2015
91(26)
7 My Last Year and My Greatest Challenge: 2016--2017
117(4)
8 Looking Back from a Higher Level
121(10)
PART II LIFE PRINCIPLES
131(148)
1 Embrace Reality and Deal with It
132(36)
2 Use the 5-Step Process to Get What You Want Out of Life
168(14)
3 Be Radically Open-Minded
182(22)
4 Understand That People Are Wired Very Differently
204(30)
5 Learn How to Make Decisions Effectively
234(45)
Life Principles: Putting It All Together
267(5)
Summary and Table of Life Principles
272(7)
PART III WORK PRINCIPLES
279(264)
Summary and Table of Work Principles
280(38)
To Get The Culture Right ...
318(4)
1 Trust in Radical Truth and Radical Transparency
322(16)
2 Cultivate Meaningful Work and Meaningful Relationships
338(10)
3 Create a Culture in Which It Is Okay to Make Mistakes and Unacceptable Not to Learn from Them
348(8)
4 Get and Stay in Sync
356(14)
5 Believability Weight Your Decision Making
370(14)
6 Recognize How to Get Beyond Disagreements
384(14)
To Get the People Right ...
384(14)
7 Remember That the WHO Is More Important than the WHAT
398(6)
8 Hire Right, Because the Penalties for Hiring Wrong Are Huge
404(16)
9 Constantly Train, Test, Evaluate, and Sort People
420(28)
To Build and Evolve Your Machine
444(4)
10 Manage as Someone Operating a Machine to Achieve a Goal
448(24)
11 Perceive and Don't Tolerate Problems
472(10)
12 Diagnose Problems to Get at Their Root Causes
482(14)
13 Design Improvements to Your Machine to Get Around Your Problems
496(22)
14 Do What You Set Out to Do
518(6)
15 Use Tools and Protocols to Shape How Work Is Done
524(6)
16 And for Heaven's Sake, Don't Overlook Governance!
530(13)
Work Principles: Putting It All Together
539(4)
Conclusion 543(2)
Appendix: Tools and Protocols For Bridgewaters Idea Meritocracy 545(8)
Bibliography 553(2)
Index 555(10)
Acknowledgments 565(4)
About the Author 569
A global macro investor for more than 50 years, Ray Dalio founded Bridgewater Associates out of his two-bedroom apartment in NYC and ran it for most of its 50 years, building it into the largest hedge fund in the world under his leadership. He is now in a stage of life in which he wants to pass along and help people learn about principles that have helped him, especially in markets and the economy. He is a long-running New York Times bestselling author of Principles: Life and Work, Principles for Dealing with the Changing World Order, and Principles for Navigating Big Debt Crises. He graduated with a B.S. in Finance from C.W. Post College in 1971 and received an MBA degree from Harvard Business School in 1973. He has been married to his wife, Barbara, for 46 years and has three grown sons and seven grandchildren. He is an active philanthropist.