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Penny · Money & Wealth Mindset

Principles

by Ray Dalio

Three key ideas

  1. The book says principles are reusable guides built from experience and reflection.
  2. A good principle is specific enough to test and flexible enough to improve.
  3. After a setback, examine what happened and which assumptions failed instead of defending yourself.

The five 2-minute lessons

  1. 1.Write it down once, use it often
  2. 2.Look at it, then adjust
  3. 3.Diagnose first, then fix
  4. 4.Weigh who knows, not who's loudest
  5. 5.Make honesty safe to share

From the comic

I improved the folder. The missed deadline looks identical.

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