Black and white portrait of Ray Dalio: Narrator and Creator of Life Principles

Principles are ways of successfully dealing with reality to get what you want out of life.

Ray Dalio, one of the world’s most successful investors and entrepreneurs, cites principles as his key to success.

Work Principle

Make sure your people have character and are capable.

The person who is capable but doesn't have good character is generally destructive, because he or she has the cleverness to do you harm and will certainly erode the culture. In my opinion, most organizations overvalue the abilities piece and undervalue the character piece because of a shortsighted focus on getting the job done. In doing so, they lose the power of the great relationships that will take them through both good and bad times.

Don't get me wrong, I'm not saying that you should compromise capabilities for character. The person with good character and poor abilities also creates problems. While likable, he or she won't get the job done and is painfully difficult to fire because doing so feels like shooting the loyal dog you can't afford to keep anymore--but he must go. Ultimately, what you need in the people you work with are excellent character and excellent capabilities, which is why it's so hard to find great people.

Work Principle

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Learn to get more of what you want out of life.

Life Principles

Work Principles

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