Ray Dalio's Book "Principles: Life and Work" Presented in Armenian (photos)

Gnel Nalbandyan, editor of the Armenian edition, congratulated everyone present on the publication of this important work in Armenian.

“For 35 years, we’ve been in a free market, searching for the principles and best solutions of free market economics, but we have not yet achieved great success. I believe this book can be useful for entrepreneurs, large corporations, company managers, and government officials. It presents the author’s accumulated experience over decades, including the rules established within his company—rules that are difficult to grasp even internally. Ray Dalio also shares how challenging it was for him to step down from leading the company he built because it’s difficult to relinquish control over something you’ve created and managed for so long.”

Aram Kayfajyan, CEO of Armbrok, explained why they decided to publish “Principles” in Armenian.

"First of all, I want to thank Newmag for handling the largest, most difficult, and longest part of this work. Why Ray Dalio? When we read this book a few years ago, we were deeply impressed. I believe we applied some of its principles in our own work, and perhaps part of our development and success can be attributed to these principles. The author’s successes are measurable—he is one of the most successful and influential people in the world. Ray Dalio is often referred to as the Steve Jobs of the financial sector, and this comparison is no coincidence. Both started from scratch, one in his apartment, the other in his garage, and went on to build the most successful and renowned companies in the world.”

Artak Aleksanyan, head of Newmag Publishing House, also expressed his gratitude to Armbrok for the idea and financial support behind the book.

"One of our most important missions is to ensure that none of our readers have to choose between reading a book in Russian or English. We’ve done our best to make reading and understanding Ray Dalio’s work in Armenian both enjoyable and memorable. It’s proven that when reading a book in your native language, you retain about 50% of its content, while reading in a foreign language results in only about 15% retention."

Aleksanyan also explained the price of the book, noting that without the partnership with Armbrok, “Principles: Life and Work” would have been priced at 18,000 AMD. Thanks to the partnership, however, the book will be sold for 7,800 AMD—making it possible for the Armenian reader to access high-quality Western literature at an affordable price.