Let me first introduce the author of the book Principles. He is the founder of the famous "Bridge Water" fund, and the asset management scale of this fund has reached 654.38+06 billion US dollars, equivalent to almost one trillion RMB. Therefore, bridgewater deserves to be the largest hedge fund in the world, and Dario himself is also called "the father of hedge funds".
The writing style of the book Principles is also the first time I have seen it. It lists the principles summarized in Dario's own life and work. There is a middle principle under the general principle and a small principle under the middle principle, and each principle is briefly described. This book is divided into three parts: the first part belongs to Dario's personal struggle, the second part is the principle of life, and the third part is the principle of work. * * * has 576 pages, which is a very thick book. I started reading from the third part of the working principle.
People should keep improving, "if you don't improve, you will die." All aspects of the world are progressing in evolution. Environment, science and technology, knowledge, financial markets, in which people are bound to move forward, will make us feel anxious and have a sense of crisis if we don't move forward. Because if we don't make progress, we may be replaced and eliminated, even if you are the strongest now. We must not only make progress, but also keep making progress. The progress of this world will not stop. Man is very small relative to this world. If you don't make progress, it won't affect the world, but the progress of the world will easily get you into trouble. As the book says, "evolution is the most powerful force in the universe, the only eternal thing, and the driving force of everything."
One word taught me here is "professional wrongdoer", which Dario described himself as. There are mistakes in his investment decisions, and even many principles in this book are summarized and reflected from mistakes.
Dario advocates a professional attitude towards mistakes. Don't dwell on the mistake itself, and don't think that it is a stain, which makes our image too imperfect. On the contrary, in Dario's view, making mistakes is also a good thing. Successful experience will not bring us changes, and there are too many variables in the process of the world. Repeating past experiences may not always succeed. Mistakes often give us great stimulation, forcing us to reflect and improve, to be awe-inspiring and cautious about things.
Our goal is "accuracy", not mistakes. Mistakes also hide huge opportunities and are an indispensable part of progress. As Thomas Edison said, "I didn't fail, I just found 10 thousand unsuccessful ways."
Here are two relatively specific ways to help us get out of our mistakes and make progress. In fact, Dario's Bridge Water Company has also implemented this method, which is the "problem log". For this reason, Qiaoshui Company has also written software to force employees to use the problem log and input the errors they encounter into the problem log to warn themselves not to make the same mistakes again. And if other employees encounter problems, they can also search by entering keywords to find corresponding solutions.
The more problems you accumulate in the problem log, the fewer mistakes you make, so that you and the company can keep running efficiently.
Dario's principles cannot be blindly followed. He hopes that readers will correct, improve or even deny it from their own perspective. Everyone has inevitable limitations, and his success hides his limitations from others.
Dario wants everyone to write down their own unique principles like him. Improve, follow, work more effectively and make continuous progress.
What makes me more educated is Dario's reflective summary and independent thinking ability. And then I can be consistent with my own principles, which is what I want to learn most.