American investor shares life and work principles in new book

By Zhang Liying
0 Comment(s)Print E-mail, February 28, 2018
The Chinese version of American investor Ray Dalio's new book "Principles: Life and Work" was released in Beijing on Feb. 27. [Photo/Caijing]

The Chinese version of American investor Ray Dalio's new book entitled "Principles: Life and Work" was released in China on Feb. 27.

In the book, the founder of investment management firm Bridgewater Associates shares the principles that he has developed, refined and used over the past four decades.

Dalio wrote the book because, in his own words, he is in a transition from a phase where he was trying to become successful to one where he has the responsibility to help others succeed.

In a speech at Tuesday's book-launch ceremony in Beijing, he stressed the importance of asking, "How do I know I'm right?" rather than thinking, "I'm right."

The approach to finding the answer to that question is "building an organization where there is thoughtful disagreement and the best idea will win out."

To let the best idea win out, you need to put honest thoughts on the table, express thoughtful disagreement and get past disagreement through effective means, he said.

Asked which overarching principles from the hundreds in his book he will tell his four children, Dalio said the most important principle is to think independently and develop principles that work for yourself.

Published in America last September, the 592-page English version of the book topped the New York Times Bestseller List and was designated the Amazon Business Book of the Year.

Dalio is now working on a second book, called "Principles: Economic and Investment," in which he will elaborate his philosophy for investment and corporate management.

Founded in 1975, Bridgewater Associates is famous for anticipating the global financial crisis of 2008-2009. It became the world's largest hedge fund in 2012, and as of October 2014, there were over US$160 billion in assets under its management.

The release ceremony was organized by Caijing, a weekly business magazine based in Beijing.

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