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Principles

Principles

by Ray Dalio

Principles = Fundamental Truths

  • Principles are essential truths that work as the foundations for the behavior that leads you where you want in life.
  • Those principles that are most valuable come from your own experiences and your reflections on those experiences.
  • You turn to your principl...

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Your principles should reflect the values you truly believe in.

While it isn’t always a bad thing to use the principles of someone else (it’s hard to come up with your own, and often much wisdom has gone into those already created), adopting pre-packaged principles...

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Your principles will influence your standards of behavior. In relationships with other people, your and their principles will decide how you collaborate.

People who have shared values and principles get along. People who don’t share values and principles, experienc...

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Reality + Dreams + Determination = A Successful Life.

We translate our dreams into reality by continually interacting with reality (in pursuit of our dreams) and by using these interactions to learn more about reality itself and how to interact with it in order to get what...

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Ray Dalio

“There are always risks out there that can hurt you badly, even in the seemingly safest bets, so it’s always best to assume you’re missing something.”

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Put Yourself On The Road To Success

  • Seek out the smartest people you disagreed with and try to understand their logic
  • Know when it's best not to have an opinion
  • Develop, test, and systematize timeless and universal principles

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  • Express your sincere, authentic thoughts
  • Have considerate debates in which people are willing to shift their opinions as they learn new perspectives
  • Have agreed-upon ways of deciding (voting, authorities, etc.) if disagre...

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The most important thing for you to do is write down your principles to clarify them.

  • Write down every type of interaction you had and how you handled them (take the future into consideration as well). Test your assumption and update your data when necessary.

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Ray Dalio

"I believe that life consists of an enormous number of choices that come at us and that each decision we make has consequences, so the quality of our lives depends on the quality of the decisions we make."

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  • A correct understanding of reality is the essential foundation for any good outcome.
  • Don’t get attached to your views about how things should be; there should always be space for learning.
  • Evolution is the single greatest force in ...

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Confront Your Weaknesses

  • Don’t confuse reality with the way you wish reality to be.
  • Don’t overweight first-order consequences relative to second and third-order ones.
  • Don’t let pain stop you from progressing.
  • Don’t blame negative results on anyone but yourself.

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Use this five-step process:

  1. Set clear goals.
  2. Identify the issues that stand in the way of you achieving those goals.
  3. Diagnose the issues correctly to get at their root causes.
  4. Draft plans t...

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  • Prioritize: you can’t have everything you want
  • Don’t confuse goals with desires. A goal - something you have to achieve; a desire - something you want, but it stands in the way of your goals.
  • Don't give up on the goals tha...

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How to Make Decisions Effectively

  • Know and understand the biggest threat to good decision making - harmful emotions
  • Decision making is a two-step process: first learning, then deciding
  • Synthesize the situation you're dealing with
  • Make your decisio...

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  • Value knowing the truth. You have nothing to fear from knowing it
  • Cultivate meaningful work and meaningful relationships
  • Foster a culture that allows mistakes and encourages learning from them
  • Weight your ...

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