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Ray Dalio Thread

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TonyStark

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0VO

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I like his book "Principles", thought it was a fun read. He mentions the use of creating systems in both work and life, tweaking and improving things, etc. He's unique take on Radical Transparency in the workplace was also interesting to read about.

I was watching him in an interview and I like how he seems "down to earth". He talks about his sons medical problems, meditation and philanthropy. Seems like a cool dude.

I just got the "Big Debt Crises" book in the mail today! Haven't opened it yet though. (it's actually 3 books, one full of case studies.)
 

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I personally found Principles like wading through treacle. I just couldn't get into it and eventually abandoned it less than halfway through.

Maybe it's because I couldn't relate, he has laser like focus that I can only dream of, and organises his life in such a beautifully logical way. However I know that I cannot do the same.

Maybe that's the difference between Ray and MJ, I could relate to MJ, whilst I admired Ray and couldn't relate to him at all.
 

The Abundant Man

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I personally found Principles like wading through treacle. I just couldn't get into it and eventually abandoned it less than halfway through.

Maybe it's because I couldn't relate, he has laser like focus that I can only dream of, and organises his life in such a beautifully logical way. However I know that I cannot do the same.

Maybe that's the difference between Ray and MJ, I could relate to MJ, whilst I admired Ray and couldn't relate to him at all.
They're both mathematical but MJ is a lot more casual

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Listened to the audio book, and I must say, it was difficult to get through and I retained very little. Thank god for Blinkist though, their summary of it was great. Missed out on a few points but captured the main essence.

Also, if you're on a Cathaway flight anytime soon (Hong Kong), they have a GREAT animated movie of principles in their entertainment system. It was truly amazing.
 

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Roli

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Maybe looking at it in a new light might help:

View: https://www.youtube.com/watch?v=B9XGUpQZY38

So far so good... plus his accent endears me to him more. I was expecting a kind of New York preppy type accent.

Thanks for this, I've watched episode 1 and will return to it this eve once the working day is over.
 

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DustinH

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I personally found Principles like wading through treacle. I just couldn't get into it and eventually abandoned it less than halfway through.

Maybe it's because I couldn't relate, he has laser like focus that I can only dream of, and organises his life in such a beautifully logical way. However I know that I cannot do the same.

Maybe that's the difference between Ray and MJ, I could relate to MJ, whilst I admired Ray and couldn't relate to him at all.

I would take a second look at the book.

It is actually two different parts. The first part is his life story.... boring, boring, boring. The second part are his business principles and some strange diatribe about nature and evolutionary biology. I highly recommend starting with the second part and skipping the first part entirely.

The two great points I got from the book and have stuck with me are:

1) deal with what IS, not what SHOULD BE
Discuss solutions to the reality of things and quit talking about how people should be and what they should do. They are who they are and probably won’t change so make decisions based on how people are, not who they should be.

2) Radical transparency
In the business sense it is sometimes a good practice to be transparent about monthly P&L’s, specifically monthly expenses. Especially if you have a profit-sharing or bonus structure for your employees.
You could also be transparent about the direction of the company and the company goals.
 

Olimac21

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I would take a second look at the book.

It is actually two different parts. The first part is his life story.... boring, boring, boring. The second part are his business principles and some strange diatribe about nature and evolutionary biology. I highly recommend starting with the second part and skipping the first part entirely.

The two great points I got from the book and have stuck with me are:

1) deal with what IS, not what SHOULD BE
Discuss solutions to the reality of things and quit talking about how people should be and what they should do. They are who they are and probably won’t change so make decisions based on how people are, not who they should be.

2) Radical transparency
In the business sense it is sometimes a good practice to be transparent about monthly P&L’s, specifically monthly expenses. Especially if you have a profit-sharing or bonus structure for your employees.
You could also be transparent about the direction of the company and the company goals.

Number 1 I have seen it from many different sources. It is a simple yet powerful principle.

I would like to add this is both for yourself and others, a lot of people are very self delusional about themselves in terms of skills, how hard they are working and their uniqueness in the market.
 

The Abundant Man

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I remember reading in Creativity Inc, how Ed Catmull talks about being candid is one of the reasons for the success of Pixar Animation.

The movie directors always tell each other the good and bad of each other movies.

After a movie comes out, the entire company would meet and go through how the company can become better.

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Roli

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I would take a second look at the book.

It is actually two different parts. The first part is his life story.... boring, boring, boring. The second part are his business principles and some strange diatribe about nature and evolutionary biology. I highly recommend starting with the second part and skipping the first part entirely.

The two great points I got from the book and have stuck with me are:

1) deal with what IS, not what SHOULD BE
Discuss solutions to the reality of things and quit talking about how people should be and what they should do. They are who they are and probably won’t change so make decisions based on how people are, not who they should be.

2) Radical transparency
In the business sense it is sometimes a good practice to be transparent about monthly P&L’s, specifically monthly expenses. Especially if you have a profit-sharing or bonus structure for your employees.
You could also be transparent about the direction of the company and the company goals.

You know what? When I read the preface I saw that it suggested I might want to do that. However my inner OCD just won't allow me to start a book halfway through...

I think you've just convinced me to at least try :)

Thanks.
 

ZF Lee

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I am currently reading the book now....

I didn't know how ignorant about life I was until I read the first pages on Dalio discussing consequences and differences between goals vs desires.

Folks, whatever you do, get the damn book. Buy, borrow, steal.
 

The Abundant Man

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I am currently reading the book now....

I didn't know how ignorant about life I was until I read the first pages on Dalio discussing consequences and differences between goals vs desires.

Folks, whatever you do, get the damn book. Buy, borrow, steal.
What sort of consequences?
 

ZF Lee

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What sort of consequences?
Dalio has terminologies for them, but basically said, every choice you make may have MULTIPLE consequences.

It isn't a one-way cause and effect street.

An easy example is the choice to exercise. Most people hate it because it has the primary consequence of making them feel tired and sweaty.

To these folks, this consequence feels painful and significant enough to consider exercise a pain in the a$$.
But they do not take note of the other (lesser?) consequences of exercise, which is improving health and increasing lifespan.

If they had considered these so-perceived lesser consequences, they would surely choose to take up exercise.

Now, things get more complicated when these range of consequences do not strictly contrast each other morally, as the exercise example has shown.

An example (my own):
A poor man goes to a faraway land to get rich and free his lover from poverty.

But while he is working, he hears a rumour that his lover has gotten a boyfriend while he is gone.

He is thinking of going back to push the boyfriend away.

Consequences:
1. Big argument with everyone, possibly killing what is left of their relationship
2. Opportunity cost in working hard, hitting it big and building another better life for himself

Now, if he values an experiential relationship with the gf, he might choose to take action based on Consequence 1, even at the risk of cutting the relationship.

But if he values a comfortable life, albeit financially, more than stuck in a lovebird mood, he would take the POV of Consequence 2 and just continue working hard. But he will have to forget about the gf or at best, come up with an alternative strategy to get her back.

None of these consequences are strictly right-and-wrong.

Take some time to digest this. I need some coffee and sweets myself lol.
 

ZF Lee

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