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kevinalbrecht's review
challenging
informative
inspiring
reflective
slow-paced
4.0
The best part of the book is the forest third where the author explains guys methodology for driving principles from decision making. The rest of the book where he lists and explains his individual personal principles is a little dry to read cover to cover, but I can imagine myself coming back to this part for reference later.
tylerzhang's review
4.0
not bad - never really heard about a meritocracy before this. maximizing success can achieved by using algorithms and being super transparent
morbonews's review
5.0
A concise masterpiece written by the guy who founded the world’s largest hedge fund. Anyone with a generally rational outlook on the world will nod vigorously while reading. Parts 1 and 3 can be skimmed: the former explains the importance of setting down one’s principles in the abstract, while the latter details specific management principles at Bridgewater. But Part 2, essentially Dalio’s “machine" for how to win at life, should really be mandatory reading for everyone, and you can get through it in an hour. Instead of bothering with the rest of this review, just go read it.
Here are some of his key points:
• Reality matters. "Success is achieved by people who deeply understand reality and know how to use it to get what they want...The converse is also true: idealists who are not well-grounded in reality create problems, not progress.” Accepting reality also means taking personal responsibility. "Blaming bad outcomes on anyone or anything other than one’s self is essentially wishing that reality is different than it is."
• Most people react to pain and setbacks badly, with a fight or flight response; the correct way to handle pain is to reflect and adapt. “The only way you are going to find solutions to painful problems is by thinking deeply about them—i.e., reflecting.” Rather than attempt to eliminate all discomfort, which inhibits personal growth, “one should accept the amount of pain that is consistent with achieving one’s objectives."
• It’s important to set goals and to distinguish them from desires. "Goals are the things that you really want to achieve, while desires are things you want that can prevent you from reaching your goals...For example, a goal might be physical fitness, while a desire is the urge to eat good-tasting, unhealthy food...that could undermine you obtaining your fitness goal.” Furthermore, avoid setting goals based on what you think you can achieve, and revise later once you break how to achieve the goal into concrete steps.
• It is essential not to tolerate problems and to bring them to the surface - to be transparent - especially when considering and compensating for one’s own weaknesses. “Great people become great by looking at their mistakes and weaknesses and figuring out how to get around them...Most problems are potential improvements screaming at you. The more painful the problem, the louder it is screaming."
• It is important to get at root causes of problems. Most progress toward a goal comes, not from the initial unimpeded march, but instead, "from designing how to remove the root causes of your problems. Problems are great because they are very specific impediments, so you know that you will move forward if you can identify and eliminate their root causes."
Here are some of his key points:
• Reality matters. "Success is achieved by people who deeply understand reality and know how to use it to get what they want...The converse is also true: idealists who are not well-grounded in reality create problems, not progress.” Accepting reality also means taking personal responsibility. "Blaming bad outcomes on anyone or anything other than one’s self is essentially wishing that reality is different than it is."
• Most people react to pain and setbacks badly, with a fight or flight response; the correct way to handle pain is to reflect and adapt. “The only way you are going to find solutions to painful problems is by thinking deeply about them—i.e., reflecting.” Rather than attempt to eliminate all discomfort, which inhibits personal growth, “one should accept the amount of pain that is consistent with achieving one’s objectives."
• It’s important to set goals and to distinguish them from desires. "Goals are the things that you really want to achieve, while desires are things you want that can prevent you from reaching your goals...For example, a goal might be physical fitness, while a desire is the urge to eat good-tasting, unhealthy food...that could undermine you obtaining your fitness goal.” Furthermore, avoid setting goals based on what you think you can achieve, and revise later once you break how to achieve the goal into concrete steps.
• It is essential not to tolerate problems and to bring them to the surface - to be transparent - especially when considering and compensating for one’s own weaknesses. “Great people become great by looking at their mistakes and weaknesses and figuring out how to get around them...Most problems are potential improvements screaming at you. The more painful the problem, the louder it is screaming."
• It is important to get at root causes of problems. Most progress toward a goal comes, not from the initial unimpeded march, but instead, "from designing how to remove the root causes of your problems. Problems are great because they are very specific impediments, so you know that you will move forward if you can identify and eliminate their root causes."
nathanleiby's review
4.0
I like the 5 step goal process he outlines, and I plan to give it a shot. I think it may lead to more ambitious goals and a more realistic assessment of what my weakness are (based on putting truth in the forefront, and being willing to confront problems and see them as sources of self-improvement/awareness).
I read most of the book, though I haven't read the full appendix of management strategies in detail. It's a quick read. Since it's also an instructional guide, I can revisit to glean more details.
I read most of the book, though I haven't read the full appendix of management strategies in detail. It's a quick read. Since it's also an instructional guide, I can revisit to glean more details.
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