Book Summary - Principles by Ray Dalio

creation date: 2013-10-16, latest update: 2013-10-16

His Beliefs and Concepts

His Model for Decision Making

Goals - your goals

Outcomes - intended results

Machine - the process of achieving your gals. Basically 2 big things

Design - good system that iteratively get you closer to your goals. (gradient descent)

People - human elements in your machine.

"Two" You (System I and II)

5-Step Process to getting what you want out of life

  1. Choose your goals - have clear goals
  2. Design a plan
  3. Encounter problems (by executing your plan)
  4. Diagnose the problems
  5. Redesign or tweak a plan that will get will get you around your problems

You must approach this as distinct steps (not blur them together). Because else you will not allocate appropriate time/effort for each step. And the process is iterative so good to do them in order.