Mann reviewed “Principles” by Ray Dalio.
Description on 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 40 years to create unique results in both life and business — and which any person or organisation 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.
Time magazine included Dalio on its 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 neighbourhood — 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 systemised 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 organisations 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 distil their strengths and weaknesses, and employing computerised decision-making systems to make believability-weighted decisions.
While the book brims with novel ideas for organisations 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.
For more detail; listen to the interview in the audio below.
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
The Money Show's Bruce Whitfield plays a clip from Jordan Belfort’s new book “Way of the Wolf: Straight Line Selling".
Economist Tim Harford discusses his book “50 Things That Made the Modern Economy” and the shortlist for the “51st thing”.
The Money Show’s Bruce Whitfield interviews labour lawyer and author of “South Africa Can Work”.
Ian Mann reviews authors Andrew McAfee and Erik Brynjolfsson’s “Machine, Platform, Crowd: Harnessing Our Digital Future”.
Bruce Whitfield interviews Pippa Malmgren, author of Signals. How to predict the economy’s direction using everyday signals…
Economist Tim Harford discusses his book “50 Things That Made the Modern Economy”.
The annual MTN Walk the Talk with 702 takes place on 22 July this year, under the theme 'Walking for South Africa'.
‘It took approximately 4 – 5 months because I had to make some stops on the way for repairs.' - Julia Albu, the African Conquest
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
Journalists Sikhonathi Mantshantsha and Kyle Cowan discuss just how the Guptas and their associates helped capture Eskom.
Bruce Whitfield interviews Francois Janse van Rensburg, author of “Making Money through Buy-To-Let in South Africa".
Clinical sexologist Dr Eve shares insights into sexual fetishes and how partners negotiate them in their bedroom and relationship.
Join Joburgers from all walks of life come together peacefully, united in their diversity for a fun family day out.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?