Bridgewater Associates

If there are people out there who don’t enjoy being broken down emotionally by their coworkers as a means of ultimately emerging stronger, he hasn’t heard of them. Well, okay, he’s heard of some but they quickly adjust to the Bridgwater way of doing things after a short 18 months. Read more »

Ray Dalio Apostles Give Up The Ghost

Howard Wang and Robert Wu are ready to face the kind of radical truth that Bridgewater alums are brought up to face: If their new hedge fund, Convoy Investments, is going to post the kind of gains that make it look more like a mutual fund than old Ray in his glory days, they’ll just have to charge clients as though they were a mutual fund. By which they mean: a management fee several times that charged by the average mutual fund, but no performance fee. Oh, and some feel-good pro bono work. Sign up now (especially if you’re not a charitable organization or one of the 100% of U.S. public pensions that are underwater)! Read more »

  • 04 Aug 2014 at 1:29 PM

A Lot Of People Owe Ray Dalio An Apology

Last Friday was the Bridgwater founder’s birthday– did you wish him a happy or even pause to commemorate the moment he came into this world? Or did it go by unnoticed, unremarked? Start thinking now about how you’re going to do better next year. At three-days out, we’ve already missed the window for coming in with a belated phone call or text. Read more »

  • June 6, 2014: Sign contract
  • June 9, 2014: First day on the job
  • June 19, 2014: Receive July Metro North pass in mail (paid with pre-tax dollars)
  • August 1, 2014: Approached on the way to the men’s room and asked how the struggle between your upper level you and your lower level you are coming; have no idea WTF this means
  • September 22, 2014: Overhear Ray talking to a lieutenant about a healthcare PM being one part Socrates, one part armadillo…scratch head
  • November 10, 2014: November 10, 2014: Confess to co-worker that it’s been months since you started and you still feel like you were just dropped onto a new planet with no instruction manual…are told this is normal
  • December 6, 2015: Acclimate to corporate culture

Read more »

For the most part, 2013 was not kind to Steve Cohen. The Feds put his balls in a jar and put that jar on Preet Bharara’s desk. One of his ex-employees went to trial for (and was later found guilty of) masterminding the “most lucrative insider trading scheme ever.” Other former traders helped bring the number of SAC alums indicted on securities fraud charges to nine. His genius idea to give out free hot dogs on the front lawn of SAC HQ failed to prevent a number of departures. He lost his biggest fan. For a lot of hedge fund managers, all of this would add up to moping around the office and turning in less than stellar work. For Steve Cohen, it meant turning up the Styx and getting down to business. Read more »

Surprise, surprise: Low-key investment funds that diversify their portfolios across asset classes to protect them for the long term are again proving their value. So-called “risk parity” funds—run by prominent investment firms like Bridgewater Associates, AQR Capital Management and Invesco—are up an average of 3.3 percent through March, according to data from Morningstar, easily beating returns for stocks and bonds. That also is better than a classic 60-40 percent stock-bond allocation, which gained 1.87 percent in the first quarter. [NetNet]

Lovestruck George Soros Is Back On Top

Just in time for Valentine’s Day comes the romantic story that the the 83 year-old hedge fund manager made a ton of money in 2013, and about 80%* it before his September 21st nuptials and can therefore keep to himself,** should this marriage should end in a similar manner to his first two. Read more »