Trainees must be open-minded; the process requires them to suspend their egos while they discover what they are doing well and what they are doing poorly and decide what to do about it. #principleoftheday (1/4) The trainer must be open-minded as well, and it's best if at least two believable trainers work with each trainee in order to triangulate their views about what the trainee is like. (2/4)

The evolutionary process is about discovering people's likes and dislikes as well as their strengths and weaknesses; it occurs when people are put into jobs they are likely to succeed at, but in which they have to stretch themselves. #principleoftheday (1/8) Each person's career will evolve based on what we all learn about what the person is like. They should be given enough freedom to learn and think for themselves while being coached so they are prevented from making unacceptable mistakes. (2/8)

I'm up for auction. Let me clarify. The Council for Economic Education and I share the goal of helping young people and adults understand money and economics. We believe this skill that is fundamental to their well-being is neglected. (1/4) CEE works with K-12 students, their families and teachers through their teaching and I work with everyone who wants to gain that knowledge through my books, video and social media. (2/4)

Idealistic people who have moralistic notions about how people should behave without understanding how people really do behave do more harm than good. #principleoftheday (1/5) As a global macroeconomist and businessman and as a philanthropist I have seen this repeatedly in all those domains. (2/5)

There are all sorts of jobs and they require all types of people to handle them. #principleoftheday (1/5) I am frequently biased toward finding the entrepreneur type--a clever, open-minded scrapper who will find the best solution--and I have often been disappointed. (2/5)

People's personalities are pretty well formed before they come to you, and they've been leaving their fingerprints all over the place since childhood; anyone is fairly knowable if you do your homework. #principleoftheday (1/4) You have to get at their values, abilities, and skills: Do they have a track record of excellence in what you're expecting them to do? Have they done the thing you want them to do successfully at least three times? (2/4)

A number of people have asked me what I’ll be doing now that I’ve transitioned Bridgewater to new leadership. (1/7) While I’ll remain a mentor to Bridgewater’s investment team, with the transition complete, I can now do a lot more of what I love to do and less of what I have to do to get the results I want. (2/7)

It pays to know what you and those around you are like and personality assessments are a great tool for doing so. nytimes.com/2023/03/05/bus… (1/6) This NYT article talks about how important personality assessments can be in helping identify people's thinking inclinations and designing teams to be more effective. I recommend the article. (2/6)

Some ways of thinking will serve you well for some purposes and serve you poorly for others. It is highly desirable to understand one's own and others' ways of thinking and their best applications. Some qualities are more suitable for some jobs. #principleoftheday (1/7) For example, you might not want to hire a highly introverted person as a salesman. That's not to say an introvert can't do that job; it's just that a gregarious person is likely to be more satisfied in the role and do a better job. (2/7)

Too many people get hired because they are just "one of those." #principleoftheday (1/4) If you're looking for a plumber you might be inclined to fill the job with the first experienced plumber you interview, without ascertaining whether he has the qualities of an outstanding plumber. (2/4)

The process for choosing people should be systematically built out and evidence- based. #principleoftheday (1/10) You need to have a people-hiring machine in which the goals are clearly stated so that the outcomes can be compared with them and the machine (the design and the people) producing the outcomes can evolve to improve. (2/10)

Values are the deep-seated beliefs that motivate behaviors and determine people's compatibilities with each other. People will fight for their values, and they are likely to fight with people who don't share them. (1/4) #principleoftheday Abilities are ways of thinking and behaving. Some people are great learners and fast processors; others possess the ability to see things at a higher level. Some focus more on the particulars; still others think creatively or logically or with supreme organization. (2/4)

If they choose to have a primarily win-win cooperative-competitive relationship, they must take into consideration what is really important to the other and try to give it to them in exchange for them reciprocating. #changingworldorder #principleoftheday (1/6) In that type of win-win relationship, they can have tough negotiations done with respect and consideration, competing like two friendly merchants at a bazaar or two friendly teams at the Olympics. (2/6)

So long as you bear the consequences of failure, you are the ultimate Responsible Party. #principleoftheday (1/6) For example, while you might choose to delegate the responsibility of figuring out how to handle your illness to a doctor, it is your responsibility to pick the right one, since you will bear the consequences if he does a bad job. (2/6)

Ultimately, power will rule. This is true of any system. #principleoftheday (1/5) For example, it has repeatedly been shown that systems of government have only worked when those with the power value the principles behind the system more than they value their own personal objectives. (2/5)

While all these principles exist for the well-being of the community, there may come times when adhering to them could threaten the community's well-being. #principleoftheday (1/5) For example, we encountered a time when there were leaks to the media of some things that we made radically transparent within Bridgewater. (2/5)

You are expected to go to the higher level and look down on yourself and others as part of a system. (1/4) In other words, you must get out of your own head, consider your views as just some among many, and look down on the full array of points of view to assess them in an idea-meritocratic way rather than just in your own possessive way. (2/4)

A decision-making group in which those who don't get what they want continue to fight rather than work for what the group has decided is destined to fail... #principleoftheday (1/4) ...you can see this happening all the time in companies, organizations, and even political systems and nations. I'm not saying that people should pretend they like the decision if they don't, or that the matter in question can't be revisited at a future date. (2/4)

Almost every group that agrees on the big things ends up fighting about less important things and becoming enemies even though they should be bound by the big things. #principleoftheday (1/5) This phenomenon is called the narcissism of small differences. Take the Protestants and Catholics. Though both are followers of Christ, some of them have been fighting for hundreds of years... (2/5)

Everyone does not report to everyone. Responsibilities and authorities are assigned to individuals based on assessments of their ability to handle them. #principleoftheday (1/4) People are given the authority that they need to achieve outcomes and are held accountable for their ability to produce them.

At the same time, they are going to be stress-tested from both directions--i.e., by those they report to and by those who report to them. (2/4)

Whenever there is a dispute, both parties are required to have equal levels of integrity, to be open-minded and assertive, and to be equally considerate. #principleoftheday (1/4) The judges must hold the parties to the same standards and provide feedback consistent with these standards. (2/4)