Raymond Thomas Dalio is an American billionaire investor and hedge fund manager, who has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, since 1985. He founded Bridgewater in 1971 in New York.
Dalio says he regrets that some of the leaders he admires most didn’t publish or reveal the principles that guided their lives and work. Here, he shares his standards in detail, offering his take on life and on professional and business success.
“Do five things.”
Set clear goals
Welcome challenges and address them
Get to the“root causes”of your obstacles
Design your plans
Do whatever is necessary to get results
Dalio follows 16 principles to guide his company in every personnel and management decision.
Radical truth and transparency -– Tell the truth – always and right away.
Meaningful work and relationships–Show you care about your employees by supporting them when they need you.
Make mistakes, and learn from them
“Stay in sync”
Let“believability weight your decision making”– Listen to everyone, but give greater weight to those with demonstrably more knowledge and success.
“Recognize how to get beyond disagreements”
“Remember that the ‘who’ is more important than the ‘what’”–Determine who will take responsibility. Choose the right people; hold them accountable.
“Hire right”
“Constantly train, test, evaluate and sort people”
Improve management of your machines
“Perceive and don’t tolerate problems” Treat problems as opportunities to improve. Use your natural anxieties to anticipate and fix things before they do damage.
“Diagnose problems to get at the root causes”
Make improvements to fix problems
“Do what you set out to do”
“Use tools and protocols to shape how work is done”
“Don’t overlook governance”