Early in the book, Dalio agrees wholeheartedly with this notion: “I believe that the key to success lies in knowing how to both strive for a lot and fail well.” To him, “failing well” means “being able to experience painful failures that provide big learnings without failing badly enough to get knocked out of the game.” Fail better.”įailures are not impediments to progress – they are what makes progress possible. So, get ready to discover the principles that made Ray Dalio an icon of our century – and prepare to implement them in your life. A behemoth of a book, at 600 tightly-packed pages, it includes hundreds of practical business lessons, most of them revolving around Dalio’s two fundamental beliefs: radical truth and radical transparency. In “Principles,” Dalio explains – thoroughly and systematically – the approach that helped him achieve this. Today, at the age of 70, he is one of the 100 wealthiest and most influential people on the planet, and the firm, Bridgewater Associates, is the largest hedge fund in the world. In 1975, when Ray Dalio was merely 26 years old, he founded an investment firm in his two-bedroom New York apartment.
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