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Book

Principles

Ray Dalio

One firm’s operating system, set out at considerable length. Take the sections on decision making and believability weighting; be sceptical of the rest.

1 idea from this book

  • Decision principleDecision-making

    Weight an opinion by the record of the person holding it

    In a disagreement, weight each view by that person's track record on the question, not by their rank or confidence.

    Investment committees, group cases, and any time you are deciding whose forecast to trust.