Back in May, we published “Principles,” the unofficial employee handbook of Bridgewater Associates. Principles contain founder Ray Dalio’s musing on life, love, and how to run a successful hedge fund using brutal truth. For instance, if you want to tell someone they suck, you are more than welcome to. In fact, at Bridgewater, you are actively encouraged to do so (B-Water employees amass points for digs à la pieces of flair). But, you can’t do it behind their backs. You MUST tell someone they suck to their face and not just like a casual “You’re not so much my cup of tea” but a ass-tearing “YOU FUCKING BLOW,” and in many cases this conversation, in which you tell a colleague how you really feel, will be tape recorded and stored for the staff monthly movie night, or to review whenever anyone is feeling him/herself getting soft. If you are caught violating this or other any of the other rules three or more times you’ll likely be told to turn in your badge (everyone on staff wears a name-tag) and get off the property ASAP. So, it can be a bit of an adjustment for people not used to a place of such hardcore honesty. Some of them never get used to it and have told us as much. Others, once they get over the initial awkward phase, come to love it. And at least one has used the “Principles” to improve his marriage!
At first, Bridgewater trader Jon Hantler, a veteran of Deutsche Bank and Putnam Investments, had difficulty adjusting to the hyper-realism at Bridgewater, where colleagues openly critiqued his ideas and drilled into his weaknesses.
“I would go home defeated,” said Mr. Hantler. “My wife would tell you, it was a challenging thing for us.” But then, six months ago, his wife joined Bridgewater in its client-service unit.
One benefit of adopting the company culture: “Our fights are less frequent, shorter and less painful,” he said. “I am more open-minded.”
“client-service” is a euphemism for what exactly?
Dear Bess,
You certainly have talent, what I am not sure what you will gain by writing on a tabloid like this. American Media is full of trash, you are just crowding the field. I like above piece about Dalio and Bill Ackman but it pains me to read some unrelated spoof.
Mean spirit points?
@1 “Client service” isn’t a euphemism at all, it’s a hyper-real and brutally honest designation.
Which principle deals with ritual mass suicide in response to the impending apocalypse?
-MNIKZAIAC
Bess, you forgot to mention that the WSJ gave you props for “breaking” this story.
I liked this business model better the first time, when it was run from Jonestown.
@4 So just to be clear, let’s say I have some “potential investors” who would like to sample “the goods” “before buying.” I should have them contact “client services” and they will “handle” this?
We aint got no class, we aint got no principles. Schooools out, for, summer…
Dalio would take offense to that
So is this like retweeting yourself from this morning?
Bess, why don’t you have an open contest for your next correspondent. 3 categories: Satire, Tags, JD Good looks acumen.
Points based on each, let the commenters (who do not reflect the readership of DB) pick which ones they like and go with it.
You could use a break every once in a while, you know, to “get back to your life”
Now if they would just fire people who have cancer it would be the perfect place to work!!
~Heartless Bastard
@10 – We need 2 more categories: malice, and malice-resistance.
Bess,
Is the Creamer paying you double now that Kouwe’s gone?
lol
search for “zach kouwe” on google and his facebook is the 2nd result
it’s Weston CT – how tough can ANYTHING be?
WTH, is Kouwe working for Murdoch now? This story is cribbed from you from May?
John Hantler is a limp-dicked piece of cool-aid-sippin’ crap who know s he can’t make more than 250K anywhere else….”trader” ? ??? Please. They have no view and do what account-management tells them do. Pure execution. Requires no brains.