
Ray Dalio
A practical and philosophical guide to achieving success through clear principles, radical transparency, and continuous improvement.
Ray Dalio founded Bridgewater Associates in his apartment, which later became one of the world’s largest hedge funds.
Section 1
8 Sections
Imagine life as a vast, flowing river—sometimes calm, sometimes wild, always moving forward. Along this river, we face countless forks, obstacles, and moments of decision. What keeps us from drifting aimlessly or being swept away by the current?
In this first chapter of our journey, let’s pause and reflect on why principles matter so much. When we act without them, we become like leaves tossed by the wind—reactive, inconsistent, and often regretful. But when we live by principles, our actions gain purpose and coherence.
Consider the story of a young person, new to the world of work, who faces the choice between honesty and convenience. Without clear principles, it’s easy to justify a small lie or cut a corner. But with the principle of integrity in mind, the choice becomes clear—even if it’s difficult. Over time, such choices accumulate, shaping not only our results but also our character.
Principles don’t appear out of thin air. They are forged in the fires of experience—through mistakes, reflection, and growth. The author of our story began writing down his principles not for the world, but for his own team, after seeing how often the same problems arose from ignoring certain truths.
Yet, principles are not set in stone. As we grow, so should our guiding truths. The river of life brings new challenges, and what worked yesterday may need to be refined tomorrow.
Some fear that living by principles will make life rigid or mechanical. In truth, it brings freedom—freedom from confusion, regret, and the tyranny of impulse. With clear principles, we can face each day’s choices with calm and clarity, knowing we are moving in harmony with our values.
As we step onto the next stone in our journey, remember:
What is the main function of principles according to this section?
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Principles are recurring truths that help us navigate life’s challenges.
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