Principles: Life and Work

A fantastic read with an insightful collection of the authors core principles that have driven his and, in turn, Bridgewater's success over the past 4 decades. What can at time seem like a completely disparate set of guiding principles ends up being a clear view of how the author has used his principles to get him through the trickiest of situations. The book traverses a number of different topics as it moves through the timeline of the authors career. The earlier chapters focus on the formation of many core principles. This includes some of the practices the author implemented to analyse industries right across the entire supply chain to best understand the market drivers and how prices would fluctuate. The work he did with McDonalds to lock in chicken prices through the use of grain futures for a key supplier, enabled them to launch the Chicken McNuggets. Anecdotes and stories of people the author has worked with such as Rusty Olsen, Alan Bond, and Bill Gates give insight into the weight that many outsiders have put on the documentation of these principles and the obvious effect they’ve had on people across the globe. The book does an exhaustive job of going through each principle and explaining with examples its implementation. From recording all meetings to drive transparency, pushing radical openmindeness, leveraging and promoting critical feedback, creating baseball cards for all employees to ensure the best work fit, engaging in psychological assessments of people to understand drivers, best practices for managerial staff, and many more. An underlying theme runs across each of the principles and that relates to relationships.The basic principle that meaningful relationships and meaningful work meant more than money drove the author. The influx of money was incidental, but no doubt welcome. The ups and downs of his career however are testament to this strong underlying driver. Staying the course was a key component to the success experienced. The author mentions the classic 80/20 rule and I think this applies greatly to this book. You may not get through each and every principle and take something from it. You will however no doubt be struck by a number of them, and that has the potential to profoundly affect your way of working and living. The ultimate goal as stated by the author was to pass on his learnings. This book is a brilliant snapshot of that.

I love feeling stupid in a conversation when I'm around very intelligent people. Reading this book made me feel that way, too. Excellent book and life manual. I hope to meet the author one day.

Really big fan of this book. Audio book has two readers, I prefer Dalio's read in the beginning. Great work, good perspective. Highly recommend. It speaks to an idealized world view, but is very thought provoking.