Ray Dalio writes about his most fundamental life and management principles in his text titled "Ray Dalio Principles" which is required reading for all employees at Bridgewater. A major part of Bridgewater’s corporate culture is a relentless focus on the open discussion of mistakes and weaknesses.
Several gems of Ray Dalio Principles. Below is a link to the ‘Principles’ of Ray Dalio founder of Bridgewater Associates:
Ray Dalio Principles
- I remained wary about being overconfident, and I figured out how to effectively deal with my not knowing. I dealt with my not knowing by either continuing to gather information until I reached the point that I could be confident or by eliminating my exposure to the risks of not knowing.
- While most others seem to believe that learning what we are taught is the path to success, I believe that figuring out for yourself what you want and how to get it is a better path.
- How much do you let what you wish to be true stand in the way of seeing what is really true?
- How much do you worry about looking good relative to actually being good?
- The most important qualities for successfully diagnosing problems are logic, the ability to see multiple possibilities, and the willingness to touch people’s nerves to overcome the ego barriers that stand in the way of truth.
- Know what you want and stick to it if you believe it’s right, even if others want to take you in another direction.
- In a nutshell, this is the whole approach that I believe will work best for you—the best summary of what I want the people who are working with me to do in order to accomplish great things. I want you to work for yourself, to come up with independent opinions, to stress-test them, to be wary about being overconfident, and to reflect on the consequences of your decisions and constantly improve.
While most others seem to believe that mistakes are bad things, I believe mistakes are good things because I believe that most learning comes via making mistakes and reflecting on them. – Ray Dalio
Ray Dalio is an American businessman and founder of Bridgewater Associates. Bridgewater Associates has since attracted many clients including pension funds and is currently (as of January 2012) the largest hedge fund in the world with nearly $120 billion under management.
March 11, 2012
Ray Dalio’s Recommended Books
In an interview on 3/6/2012, Ray Dalio was asked what his favorite books were. Below is the list:
The Lessons of History, by Will Durant. 104 pages.
Will Durant’s 15 volumes of history (The Story of Civilization) which coverover the last 5,000 years. Dalio described him as possibly the greatest historian of all time.
History is a vital part of investing. We bring you the following quote regarding history and investing:
“In the fall of 1974 I was in graduate school at USC taking a portfolio-management investment course. The financial markets were in difficulty, and I didn’t understand how securities were being sold at such depressed levels. I had only recently discovered Security Analysis by Graham and Dodd when we had a guest lecturer come in named Charlie Munger, who went on about this idea of value investing. After the class was over, I walked up to Charlie and asked him if there was one thing that I could do that would make me a better investment professional. His answer was, ‘Read history, read history, read history.’ Robert Rodriguez, CEO, of FPA
The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds
Ray Dalio is an American businessman and founder of Bridgewater Associates. Bridgewater Associates has since attracted many clients including pension funds and is currently (as of January 2012) the largest hedge fund in the world with nearly $120 billion under management.
The Lessons of History, by Will Durant. 104 pages.
Will Durant’s 15 volumes of history (The Story of Civilization) which coverover the last 5,000 years. Dalio described him as possibly the greatest historian of all time.
History is a vital part of investing. We bring you the following quote regarding history and investing:
“In the fall of 1974 I was in graduate school at USC taking a portfolio-management investment course. The financial markets were in difficulty, and I didn’t understand how securities were being sold at such depressed levels. I had only recently discovered Security Analysis by Graham and Dodd when we had a guest lecturer come in named Charlie Munger, who went on about this idea of value investing. After the class was over, I walked up to Charlie and asked him if there was one thing that I could do that would make me a better investment professional. His answer was, ‘Read history, read history, read history.’ Robert Rodriguez, CEO, of FPA
The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds
Ray Dalio is an American businessman and founder of Bridgewater Associates. Bridgewater Associates has since attracted many clients including pension funds and is currently (as of January 2012) the largest hedge fund in the world with nearly $120 billion under management.
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