Bridgewater Associates

  • Hedge Funds

    Ray Dalio Not Pleasing Everyone Right Now, But He’s Not Trying To*

    Ray Dalio does not fear the truth (2) that he’s taking a bath during this little correction. He does not feel bad about his mistakes or those of his underlings (10). He simply puts it all into perspective (163), pushes through (189), identifies the principles violated (160), does not “Monday-morning quarterback” (159) and synthesizes (205), diagnosing […]

    / Jun 24, 2013 at 3:38 PM
  • ray_dalio

    News

    Local Paper Doesn’t Trust This Ray Dalio Character, Thinks This Whole Thing Stinks

    At the end of March, Mayor Michael Pavia called an impromptu press conference to make the announcement that many in the city had long been expecting. Joined at a table by Carl Kuehner, the CEO of Building and Land Technology, Pavia proclaimed that, after months of tough negotiations, his administration and the Harbor Point developer […]

    / Jun 17, 2013 at 3:13 PM
  • davidtepper

    News

    David Tepper’s Lucky Brass Balls Worked Overtime In ’12

    Overtime that was not for naught! Thanks to labor laws protecting LBBs, Tepper took home $2.2 billion last year. Other people who made some money in 2012:

    / Apr 15, 2013 at 3:31 PM
  • ray_dalio

    News

    Bridgewater Ensures Packs Of Wildebeest-Hunting, Risk-Parity-Achieving, Truth-Spreading Hyenas Will Roam Connecticut For Years To Come

    Bridgewater Associates told its investors that it will launch a new hedge fund this year, and had sold another minority equity stake in the firm to an unidentified buyer to help ensure its long-term viability. Bridgewater described its new fund, All Weather Major Markets, as a variation of its All Weather strategy that seeks to […]

    / Feb 4, 2013 at 5:51 PM
  • ray_dalio.03

    Hedge Funds

    Bridgewater Associates To Build A Land Where Humans And Hyenas Can Live In Perfect Harmony

    A plan to transform a gritty, industrial stretch of South End waterfront into a glassy headquarters for the world’s largest hedge fund came into sharper focus this week, following submission of zoning applications from developer Building and Land Technology. In addition to a five-story, 850,000-square-foot office, the campus for Bridgewater Associates calls for a helipad, […]

    / Oct 17, 2012 at 3:53 PM
  • News

    Caption Contest Thursday: Vintage Dalio

    Bridgewater Mentor Ray Dalio and friends, circa 1976 [Clusterstock]

    / Oct 11, 2012 at 2:35 PM
  • News

    Ray Dalio’s “Biggest” Worry About The Global Economy Involves Hitler Circa 1933

    Earlier today, Bridgewater Associates founder Ray Dalio sat down with Andrew Ross Sorkin for a wide-ranging chat about QE3, China, gold, American competitiveness, monetary policy, and his general outlook on life and the economy. While there are a whole bunch of issues that Dalio could be worried about, his biggest fear? Is “another leg down in the economies causing social disruptions, because deleveraging can be very painful…but when people get at each other’s throats, the rich and the poor, the left and the right, and so on, you have a basic breakdown, that becomes very threatening. For example, Hitler came to power in 1933, which was the depth of the Great Depression, because of social tension between the factions.”

    What Worries Hedge Fund Titan Ray Dalio? [CNBC]

    / Sep 21, 2012 at 1:44 PM
  • News

    Bridgewater Associates To Build Magical Forest For Thousands Of Employees To Run Free

    On Wednesday, Governor Dannel P. Malloy of Connecticut announced that the asset manager would be constructing a state-of-the-art facility along the Stamford waterfront as part of an economic and community development initiative. As part of the program, which will give the firm as much as $115 million in incentives as part of the deal, Bridgewater […]

    / Aug 15, 2012 at 5:38 PM
  • News

    Ray Dalio Loses Fellow Truth Seeker To Baked Goods

    Ben Gifford ’10, the valedictorian of his class [at Dartmouth], left his job at Bridgewater Associates after a year and a half. The next day, he decided to open a San Francisco-based bakery called Double or Muffin, an idea he and his childhood friend and Double or Muffin co-founder Sean Pears conceived while they were […]

    / Aug 7, 2012 at 4:00 PM
  • Think twice about calling in "sick"

    Bridgewater Associates Suggests Fate Worse Than Firing In Store For Hyenas Caught Cheating On Day-Long Principles Exam

    A couple weeks back, we noted that Bridgewater Associates had informed employees that they would be required to sit for an exam on the contents of Principles, a 123 page company handbook of sorts, written by founder Ray Dalio and comprised of hundreds of “principles” that guide every aspect of life at the firm. Though familiarity with them has always been an essential part of the job, there has never been a formal test determining that all employees met the required level of efficiency and some people were said to be a bit nervous about what to expect. Luckily, a group called the Principles Training Team sent out an email yesterday walking everyone through what “Test Day” will entail and it appears there is nothing to worry about. The exam, which will begin at 9AM and end at 5PM with a break for lunch is simply “meant to feel like a day-long conversation on Principles.” That doesn’t sound so bad, right? Sure, parts of that conversation (which will take place between you and your computer), during which you “should have no materials on your desk,” will be graded, but Bridgewater is simply trying to determine “what you know and honestly think about Principles.” Think of this thing as just a coupla wildebeests, havin’ a chat. Of course, as is the case in any animal kingdom, sometimes you’ll find a few wildebeests looking to cut corners via cheat sheets– you don’t want to be those wildebeests, as the PTT will “audit for cheating, and cheating will be dealt with severely.” To that end, don’t be a weasley wildebeest who suddenly comes with a stomach bug on Test Day. The PTT will “keep track of lateness or unexpected absence,” and suggests one might want to “think twice about calling in ‘sick’!”

    Good luck to all!


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    Earlier: A Wildebeest Leaves New York Traveling North At 10 MPH. A Hyena Leaves Westport Traveling South At 15MPH. At What Time Does The Wildebeest Get Eaten?

    / Apr 19, 2012 at 12:47 PM
  • News

    Bridgewater Likes To Hire People Who Have Something To Fall Back On When They’re Fired

    Interest in the subject matter is a minor consideration. Unlike a lot of firms, we look at what someone is like rather than what they did before. We are first interested in people’s values, second interested in their abilities, and least interested in their precise skills. We want independent thinkers who are willing to put […]

    / Apr 13, 2012 at 5:32 PM
  • News

    A Wildebeest Leaves New York Traveling North At 10 MPH. A Hyena Leaves Westport Traveling South At 15MPH. At What Time Does The Wildebeest Get Eaten?

    As many of you know, Bridgewater Associates is mega-successful, multi-billion dollar hedge fund guided by Principles, a company handbook written by founder and Mentor Ray Dalio, which instructs employees to go on radical truth seeking missions in order to better themselves and in turn the firm. Bridgewater takes the principles very seriously and each member of the staff is given spiral bound copies to read, highlight, and imbue their souls with. While the idea of Truth above all else is the overarching idea, there are literally hundreds of principles (such as 31a. “Ask yourself whether you have earned the right to have an opinion,” 130. “…Firing people is not a big deal…” and 184. “Use checklists”) which span 123 pages and are broken down into outline form after being explained at length. Though familiarity with them has always been an essential part of the job, there has never been formal test determining that all employees met the required level of efficiency. Until now.

    Apparently the firm has notified employees that there will be an exam on the material, which has resulted in people carrying around their copies and studying whenever they can, particularly on the bus ride from Manhattan to Wesport and back. No date has been announced but it will be administered online à la one of those mandatory HR quizzes that won’t let you skip forward. According to proctors, Bridgewater simply wants to use the test as an opportunity to asses what people know, how they’re interpreting the principles, and what requires further elucidation. It’s unclear what the penalty for failing will be but remedial Principles classes seem obvious. Because we would hate to see any of you have to stay after school, we’ve highlighted what is most likely to be covered– feel free to print these out and add to your study guide.


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    Principles [Bridgewater]

     

    essential

     

     

    (which expects the staff to “probe” each other regularly, no matter one’s rank, in order to foster openness and meritocracy).

    / Apr 4, 2012 at 3:08 PM
  • News

    Bridgewater Accuser/Dartmouth Fraternity Brother-Cum-Reformer Surprised Find Himself Not Covered By Whistleblowing Protection Laws

    That November, living at home and angry over what he saw as the unfairness of his predicament [of being suspended for cocaine possession and witness tampering], Lohse quietly visited the campus to report SAE for hazing. He had been encouraged to make the move by several friends and by his brother, Jon, who had quit […]

    / Mar 28, 2012 at 4:22 PM
  • investigations

    Attention Would-Be Thieves: Bridgewater Associates Take Their Buns Of Steel Tapes Very Seriously

    Last Friday afternoon, while many a financial services employee was dealing with the fallout of receiving a bonus they did not believe to be commensurate with the work they put in for 2011, Bridgewater was dealing with a far weightier issue. The hedge fund had a thief in its ranks and said thief’s jig was […]

    / Jan 23, 2012 at 3:01 PM
  • News

    Which Hedge Funds Were Most Profitable In 2011?

    The latest issue of Bloomberg Markets magazine has the answer to that burning question but first, let’s take a gander at who had the best performance, among large hedge funds. 1. Tiger Global, YTD total return: 45% (assets, in billions: 6.0) 2. Renaissance Institutional Equities, 33.1% (7.0) 3. Pure Alpha II, 23.5% (53.0) 4. Discus […]

    / Jan 10, 2012 at 10:41 AM
  • News

    Bridgewater Associates Wants The Truth, No Feelings Spared (It Can Handle It)

    As you may have heard, Bridgewater Associates is a hedge fund committed to probing the depths of any situation until it finds the truth. And, when one makes it his or her business to go after the truth, one must be persistent, and not take no for an answer. For example, at other funds, recruiters […]

    / Nov 10, 2011 at 12:29 PM
  • News

    Ray Dalio: Preacha Tellin’ The Truth And It Hurts!

    The truth, according to Bridgewater, being: 1) the world is going to hell in a handbasket and 2) 2011 will be the Year of the Hyena.

    / Sep 8, 2011 at 10:11 AM
  • News

    Bridgewater Associates Lays Some Truth On One Dartmouth Student’s Ass

    Earlier this week, a Dartmouth College undergraduate wrote an opinion piece for the student newspaper in which he recounted “vomiting in my mouth” after hearing an anecdote about Bridgewater Associates supposedly paying a girl $100 to write an essay about why she chose not to participate in their summer recruitment session. That the hedge fund […]

    / Aug 5, 2011 at 11:37 AM

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