by Ray Dalio
8*/10
Key Ideas:
Pain + Reflection = Progress. Embrace pain from pushing your limits, learn from mistakes.
Focus on long term consequences. Exercise is uncomfortable (first order), but leads to better health and attractiveness (second order).
Aim for meaningful work and meaningful relationships.
Other interesting notes:
Accept reality as it is rather than wishing it was different. Take ownership of outcomes.
Worry about reaching your goals rather than looking good. Surround yourself with people who have skills you don’t.
Be radically transparent.
People are built very differently.
Hire people you want to share your life with.
Manage as someone who is designing and operating a machine to achieve the goal
Remember the 80/20 Rule, and know what the key 20% is.
Balance risks in ways that keep the big upside while reducing the downside.
Remember that there are typically many paths to achieving your goals, you only need to find one that works.
Create environments where the best ideas win.
It is okay to make mistakes and unacceptable not to learn from them.
Thoughts on the book:
*The original PDF was 9 or 10/10, somehow the book has 500 pages instead of 100. Still very dense in some areas, worth reading and reflecting. Radical transparency won’t work well if you’re not working at Bridgewater.
Longer summary/notes: NE, DS, Sivers
If you like this, you’ll probably like: Navalmanack, Lying, The e-myth revisited, 7 habits, 4 hour work week, Atomic habits, 4 disciplines of execution, Work rules!, High output management, 80/20 principle, books
Leo :) 