Book Review “Principles”

Principles is a book written by Ray Dalio a hedge fund manager. He successfully forecasted 2008 recession & since then he was called by many interviewers for his insights. He framed few paths to success which are commonly known as Principles. The book is divided into 3 parts. 1st part deals with his background; 2nd & the most important part Life Principles & 3rd part is Work Principles. Each part has something unique to offer. However, I only read 1st two parts as I felt these two will be useful to me.

Life Principles:
Ray Dalio captured his learning in this section. The book is divided into heading which covers broad topics, subheadings which are explanations of the heading. So, in short, he followed a few points which he feels can help you to live a better life or figure your life. Below are the few points mentioned explained in the book.

*) Accept situation: Understanding, accepting & working with reality is the beautiful & best way to live.
*) Be openminded: Being open-minded enhances the efficiency of feedback. It is awkward to share thoughts but it is important to avoid any misunderstandings.
*) Analytical: We should analyze the situation rather than being emotional towards it.
*) Find imperfection & deal with it. It is a goal that fuels a never-ending process of adaptation.
*) Where you go in life will depend on how you see things & who & what you feel connected to.
*) People who choose what they really want & avoid the temptations & get over the pains that drive them away from what they really want are much more likely to have a successful life.
*) You will more likely to succeed & find happiness if you take responsibility for making your decisions well instead of complaining about things being beyond your control.
*)If you are open-minded enough & determined you can get virtually anything you want.
*) Have clear goals & work towards them.
*) Remember that weakness don’t matter if you find solutions.
*) The two biggest barriers to good decision making are your ego & blindspots.
*) Habits is probably the most powerful tool in your brain’s toolbox.
*) Decision making is a two-step process first learning then deciding.
*) Get rid of irrelevant details so that the essential things & the relationships between them stand out.
*) People are wired differently & you have to find what suits best for you.

These are some of the points from the book. The knowledge is not limited to only these points, there is much more wisdom hidden here. This book should be on your reading list. A great way to deduce the path for your success.