Ray Dalio established Bridgewater Associates in his Manhattan condominium in 1975 and grew it into a hedge fund colossus—with about $150 billion in assets—through astute assessment of macroeconomic developments. Along the way, he created a set of concepts, later articulated in talks, tweets, and textbooks, that aided form the firm’s culture of “radical transparency” and built Bridgewater an “idea meritocracy.” Dalio not long ago handed off administration of the Westport, Conn.–based company to the subsequent generation of leaders, but will continue being a member of its operating board, an investor, and a mentor to senior executives.
Dalio, 73, is stepping down at a time when Bridgewater’s flagship Pure Alpha fund is riding high—it received additional than 22% this year via Oct. 31—but the planet is experience small. Following yrs of unfastened monetary and fiscal policies and debt-fueled development, several nations are grappling with rampant inflation, and central bankers are elevating curiosity charges to neat price gains. Bigger rates, in switch, have clobbered inventory and bond markets, and threaten to suggestion key economies into economic downturn future yr. In the meantime, in the U.S., the inhabitants is remarkably polarized, while external conflicts among the superpowers threaten to put an stop to a long time of relative peace.
Ray Dalio established Bridgewater Associates in his Manhattan condominium in 1975 and grew it into a hedge fund colossus—with about $150 billion in assets—through astute assessment of macroeconomic developments. Along the way, he created a set of concepts, later articulated in talks, tweets, and textbooks, that aided form the firm’s culture of “radical transparency” and built Bridgewater an “idea meritocracy.” Dalio not long ago handed off administration of the Westport, Conn.–based company to the subsequent generation of leaders, but will continue being a member of its operating board, an investor, and a mentor to senior executives.
Dalio, 73, is stepping down at a time when Bridgewater’s flagship Pure Alpha fund is riding high—it received additional than 22% this year via Oct. 31—but the planet is experience small. Following yrs of unfastened monetary and fiscal policies and debt-fueled development, several nations are grappling with rampant inflation, and central bankers are elevating curiosity charges to neat price gains. Bigger rates, in switch, have clobbered inventory and bond markets, and threaten to suggestion key economies into economic downturn future yr. In the meantime, in the U.S., the inhabitants is remarkably polarized, while external conflicts among the superpowers threaten to put an stop to a long time of relative peace.
