Ray Dalio Popular Books

Ray Dalio Biography & Facts

Raymond Thomas Dalio (born August 8, 1949) is an American investor and hedge fund manager, who has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, since 1985. He founded Bridgewater in 1975 in New York. Dalio was born in New York City and attended C.W. Post College of Long Island University before receiving an MBA from Harvard Business School in 1973. Two years later Dalio launched Bridgewater. In 2013, Bridgewater was listed as the largest hedge fund in the world. In 2020 Bloomberg ranked him the world's 79th-wealthiest person. Dalio is the author of the 2017 book Principles: Life & Work, about corporate management and investment philosophy. It was featured on The New York Times bestseller list. Dalio is a director of National Committee on United States-China Relations. Early life Dalio was born in the Jackson Heights neighborhood of New York City's Queens Borough. When he was 8, the family moved from Jackson Heights to Manhasset in Nassau County, New York. He is the son of a jazz musician, Marino Dallolio (1911–2002), who "played the clarinet and saxophone at Manhattan jazz clubs such as the Copacabana," and Ann, a homemaker. As a child, Dalio had various odd jobs, including mowing lawns, shovelling snow, and a paper route. He is of Italian descent. At age 12, he started caddying at The Links Golf Club, which was within walking distance of his childhood home. He caddied for many Wall Street professionals during his time there, including Wall Street veteran George Leib. Leib and his wife Isabelle invited Dalio to their Park Avenue apartment for family dinners and holiday gatherings. The couple's son, a Wall Street trader, later gave Dalio a summer job at his trading firm. He began investing at age 12, when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. By the time he reached Herricks High School, he had built up an investment portfolio of several thousand dollars. He received a bachelor's degree in finance from Long Island University (C.W. Post College) and an MBA from Harvard Business School in 1973. Investment career College Dalio had trouble finding a college in which to enroll. He finally applied and got into C.W. Post College, a campus of Long Island University. He continued to buy and sell stocks in college, but became attracted to something new: commodity futures. Commodity futures had low borrowing requirements at the time, and Dalio knew he could profit more handsomely than with simple stocks. At the same time, he was beginning to enjoy school. With more freedom given to him, he took up Transcendental Meditation, which he still practices to this day. Graduate school After graduating from C.W. Post College, Dalio had a free summer. He took a job as a clerk on the New York Stock Exchange. While there, he witnessed Nixon's decision to take the United States off of the gold standard in response to rising inflation. Stock prices on the exchange rose, on average, 33% the following day. The next summer, after his first year at Harvard, Dalio and his friends created the company that later became Bridgewater Associates. It started off as a small entity, and its goal was to trade commodities. But they lacked experience and the venture yielded little fruit. Although the original Bridgewater failed, Dalio later used the name to start what would become the largest hedge fund in history. Professional start After graduating from Harvard, Dalio married and started a family. He moved to Wilton, Connecticut, where he lived and traded out of a converted barn. Dalio then worked on the floor of the New York Stock Exchange and traded commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone, a securities firm run by Sandy Weil, who later became famous for building up Citigroup. At the firm, Dalio's job was to advise cattle ranchers, grain producers, and other farmers on how to hedge risks, primarily with futures. But he was largely dissatisfied with Shearson Hayden Stone's hierarchical structure, which reminded him of primary education. He longed for the more freedom-based lifestyle of college. At one point, he paid a stripper to drop her clothes in front of a crowd at the annual convention of the California Food and Grain Growers' Association. His creative ways of blowing off steam continued, and exploded on New Year's Eve in 1974 after he went out drinking with some colleagues, including his boss. After a disagreement with his superior, a drunk Dalio punched him in the face. Soon afterwards, he was let go from his job at Shearson Hayden Stone. Founding of Bridgewater Associates Despite his aggressive behavior, numerous clients at Shearson Hayden Stone retained their trust in Dalio, and continued to allow him to manage their money. With this capital, he was able to scrape together the beginnings of his asset management fund. In 1975, he founded Bridgewater Associates out of his two-bedroom New York City apartment. Bridgewater started out as a wealth advisory firm, in which capacity it served numerous corporate clients, mostly retained from Dalio's job at Shearson Hayden Stone. The main areas in which Dalio advised were currencies and interest rates. The company began publishing a paid subscription research report, Daily Observations, in which it analyzed global market trends. Dalio's big break came when McDonald's signed on as a client of his firm. Bridgewater then began to grow rapidly. The firm signed on larger clients, including the pension funds for the World Bank and Eastman Kodak. In 1981, the firm opened an office in Westport, Connecticut, which was where Ray and his wife wanted to start a family. Dalio started to become well-known outside of Wall Street after turning a profit from the 1987 stock market crash. The next year, he appeared on an Oprah Winfrey Show episode titled "Do Foreigners Own America?" In 1991, he launched Bridgewater's flagship strategy, "Pure Alpha", a reference to the Greek letter that, in Wall Street terminology, represents the surcharge a money manager can earn above a particular market benchmark, such as the NASDAQ. In 1996, Dalio launched All Weather, a fund that pioneered a steady, low-risk strategy that later became known as risk parity. Rise to prominence Bridgewater Associates became the world's largest hedge fund in 2005. From 1991 to 2005, it lost money in only three calendar years, and never more than 4%. During the same period, the S&P 500 also had three down years, including a negative return of 22.1% in 2002. The fund grew in size by using the standard hedge fund model, which takes a 2% management fee of assets and 20% of yearly profits accrued from using an investment system. By 2005, Dalio was managing money for extremely large entities, including the $196 billion California Public .... Discover the Ray Dalio popular books. Find the top 100 most popular Ray Dalio books.

Best Seller Ray Dalio Books of 2024

  • The Bhagavad Gita synopsis, comments

    The Bhagavad Gita

    Laurie L. Patton

    Part of the ancient Hindu epic The Mahabharata, The Bhagavad Gita is one of the enduring religious texts of the worldThe Bhagavad Gita is an early poem that recounts the conversati...

  • Summary of Principles for Dealing With the Changing World Order Why Nations Succeed and Fail by Ray Dalio synopsis, comments

    Summary of Principles for Dealing With the Changing World Order Why Nations Succeed and Fail by Ray Dalio

    Book Tigers

    Dalio takes you through the history of the world and explains the current power dynamics in terms of longterm money and debt cycles, internal wealth and international power and wea...

  • Principios synopsis, comments

    Principios

    Ray Dalio

    En 1975, Ray Dalio fundó Bridgewater Associates desde su pequeño apartamento de Nueva York. Cuarenta años después, Bridgewater es la quinta compañía privada más importante de Estad...

  • Principles for Dealing with the Changing World Order synopsis, comments

    Principles for Dealing with the Changing World Order

    Turbo-Learning

    A Comprehensive Study Guide of Principles for Dealing with the Changing World Order A couple of years prior, amazing financial backer Ray Dalio noticed a conjunction of three powe...

  • Happy Ever After synopsis, comments

    Happy Ever After

    Paul Dolan

    'A passionate, provocative book. It isn't just a selfhelp book. It is a manifesto for a better society' Sunday Times 'One of the most rigorous articulations of the new mood of acc...

  • How To Read The Financial Pages synopsis, comments

    How To Read The Financial Pages

    Michael Brett

    Stripping away the mystique from the world of investment and finance, How to Read the Financial Pages is a layman's guide to reading and understanding the financial press and the m...

  • The Self Delusion synopsis, comments

    The Self Delusion

    Tom Oliver

    'A thoughtprovoking and worthwhile read' THE TIMES'A timely, challenging book' GUARDIAN'[A] rich, intriguing book' NATUREWE ARE MUCH MORE CONNECTED TO NATURE AND EACH OTHER THAN WE...

  • Principles for Success synopsis, comments

    Principles for Success

    Ray Dalio

    An entertaining, illustrated adaptation of Ray Dalio’s Principles, the #1 New York Times bestseller that has sold more than two million copies worldwide.Principles for Success dist...

  • Awaken the Giant Within synopsis, comments

    Awaken the Giant Within

    Tony Robbins

    Wake up and take control of your life! From the bestselling author of Inner Strength, Unlimited Power, and MONEY Master the Game, Anthony Robbins, the nation's leader in the scienc...

  • Principles for Dealing with the Changing World Order synopsis, comments

    Principles for Dealing with the Changing World Order

    Ray Dalio

    NEW YORK TIMES BESTSELLER MORE THAN ONE MILLION COPIES SOLD “A provocative read...There are few tomes that coherently map such broad economic histories as well as Mr. Dalio’s. Per...

  • Abundance synopsis, comments

    Abundance

    Ezra Klein

    From bestselling authors and journalistic titans, Ezra Klein and Derek Thompson, Abundance is a onceinageneration, paradigmshifting call to rethink big, entrenched problems that se...

  • The Fund synopsis, comments

    The Fund

    Rob Copeland

    The unauthorized, unvarnished story of famed Wall Street hedgefund manager Ray Dalio. An instant New York Times bestseller!Ray Dalio does not want you to read this book.Late last y...

  • Gambler synopsis, comments

    Gambler

    Billy Walters

    NEW YORK TIMES BESTSELLER “An insightful read…Walters is a largerthanlife character.” Sports Illustrated “This book is going to become the sports gambling bible…The formula’s in ...

  • Upstream synopsis, comments

    Upstream

    Dan Heath

    Wall Street Journal BestsellerNew York Times bestselling author Dan Heath explores how to prevent problems before they happen, drawing on insights from hundreds of interviews with ...

  • The Harder You Work, the Luckier You Get synopsis, comments

    The Harder You Work, the Luckier You Get

    Joe Ricketts

    Joe Ricketts, founder of TD Ameritrade, shares the epic inside story of how a workingclass kid from the Nebraska prairie took on Wall Street’s clubby brokerage business, busted it ...

  • The Five Lessons a Millionaire Taught Me About Life and Wealth synopsis, comments

    The Five Lessons a Millionaire Taught Me About Life and Wealth

    Richard Paul Evans

    Easy to understand and simple to apply, The Five Lessons a Millionaire Taught Me About Life and Wealth is one of the most powerful books ever written about money. This book will ch...

  • Burn the Business Plan synopsis, comments

    Burn the Business Plan

    Carl J. Schramm

    Business startup advice from the former president of the Ewing Marion Kaufmann Foundation and cofounder of Global Entrepreneurship Week and StartUp America, this “thoughtful study ...

  • Built on a Lie synopsis, comments

    Built on a Lie

    Owen Walker

    He was the most celebrated and successful British investor of his generation but it was all built on a lie. Neil Woodford spent years beating the market; betting against the dot c...

  • Principles for Navigating Big Debt Crises synopsis, comments

    Principles for Navigating Big Debt Crises

    Ray Dalio

    Ray Dalio, the legendary investor and #1 New York Times bestselling author of Principleswhose books have sold more than five million copies worldwideshares his unique template for ...

  • Principios para enfrentarse al nuevo orden mundial synopsis, comments

    Principios para enfrentarse al nuevo orden mundial

    Ray Dalio

    Los tiempos que vienen serán radicalmente diferentes a los que hemos vivido hasta ahora, pero se parecerán mucho a otras etapas de la historia. Esta es la principal conclusión a la...

  • Atlas of Management Thinking synopsis, comments

    Atlas of Management Thinking

    Edward de Bono

    First published in 1981, this was the first book ever to be written explicitly for the right side of the reader’s brain. Much has been made of the research conducted into the left ...

  • How to Invest synopsis, comments

    How to Invest

    David M. Rubenstein

    NEW YORK TIMES BESTSELLERA master class on investing featuring conversations with the biggest names in finance, from the legendary cofounder of The Carlyle Group, David M. Rubenste...

  • How to Sell Anything to Anybody synopsis, comments

    How to Sell Anything to Anybody

    Joe Girard

    "Salesmen are made, not born. If I did it, you can do it." Joe Girard In his fifteenyear selling career, author Joe Girard sold 13,001 cars, a Guinness World Record. He didn't h...

  • What It Takes synopsis, comments

    What It Takes

    Stephen A. Schwarzman

    NEW YORK TIMES BESTSELLERFrom Blackstone chairman, CEO, and cofounder Stephen A. Schwarzman, a longawaited book that uses impactful episodes from Schwarzman's life to show readers ...

  • The Short Story of Science synopsis, comments

    The Short Story of Science

    Tom Jackson & Mark Fletcher

    'Nothing in life is to be feared. It is only to be understood. Now is the time to understand more, so that we may fear less' Marie CurieThe Short Story of Science is a new introduc...

  • Principles for Dealing with the Changing World Order synopsis, comments

    Principles for Dealing with the Changing World Order

    Turbo-Learning

    A Comprehensive Book Review of Principles for Dealing with the Changing World Order A couple of years prior, amazing financial backer Ray Dalio noticed a conjunction of three powe...

  • Principles synopsis, comments

    Principles

    Ray Dalio

    #1 NEW YORK TIMES BESTSELLER 5 MILLION COPIES SOLD“Significant...The book is both instructive and surprisingly moving.” The New York TimesRay Dalio, one of the world’s most succes...

  • Where the Money Is synopsis, comments

    Where the Money Is

    Adam Seessel

    “One of the best books I have read on investing in years. ” Bill Ackman, founder and CEO, Pershing Square Capital ManagementFrom a successful investor and a contributor to Barron’s...

  • Hot Seat synopsis, comments

    Hot Seat

    Jeff Immelt

    A fascinating and candid memoir about successful leadership from the former CEO of General Electric, named one of the “World’s Best CEOs” three times by Barron’s, and the hardwon l...