1 Followers
26 Following
wanderingwanderlustwanderer

Books

My space for book reviews

Principles by Ray Dalio: Key takeaways

Principles - Ray Dalio
  • The Success broth is produced using the following ingredients. Dreams, True Recognition and Conscious Interaction with Reality as well as the Determination to Reflect / Learn / Repeat. Step by step, the broth becomes tastier and this is called progress.

 

  • Ignorance, Ego and Arrogance are fatal impediments.

 

  • A way of learning is to ask and answer followed by more asking and answering till a conclusion is reached.

 

  • During each setback, reflect on the manner of you not understanding reality and how you could improve your understanding and handling of reality the next time.

 

  • Seek the truth about your mistakes and weaknesses to improve fast

 

  • Wrestle with realities, reflect on decisions' consequences, learn and improve

 

  • Challenge your opinions with the smartest people around

 

  • Use your best efforts to derive the best independent opinion you can get

 

  • Work for yourself and be the toughest boss you can be on yourself.

 

  • It is easy to be confident of your opinions but often they are wrong and costly

 

  • Majority of people in life are wrong, so learn to be independent

 

  • 5 distinct steps to getting what you want in life
  1. Set your goals
  2. Design your plan to achieve your goals and identify/diagnose the problems that stand between you and your goals
  3. Design steps to resolve/overcome the problems that arise
  4. Execute the steps
  1. To diagnose problems, you need logic, the ability to see multiple possibilities and willingness to forsake ego to seek the truth