Have you been confusing the right to complain with the right to make decisions?
As his Principles make abundantly clear, the human animal is an imperfect beast who may aspire to perfection but whose limits will keep him from ever actually reaching the complete and total radical honesty sought by Ray Dalio. But do you know what never backslides? Never fails a test? Doesn’t take a year-and-a-half to shake off the dizziness of first setting foot in that alien world in Westport? Doesn’t need to be tape-recorded and exposed during self-criticism sessions around the bonfire? Never loses on “Jeopardy!”? Never puts a foot wrong until it rises up to slaughter you and the rest of the human race? A robot. And so, Ray Dalio has decided to build some robots. Robots that look, to be sure, a lot like the robots that have been buying Jim Simons’ smokes for all of these years.
Ray Dalio’s $165 billion Bridgewater Associates will start a new, artificial-intelligence unit next month with about half a dozen people, according to a person with knowledge of the matter. The team will report to David Ferrucci, who joined Bridgewater at the end of 2012 after leading the International Business Machines Corp. engineers that developed Watson, the computer that beat human players on the television quiz show “Jeopardy!”
The unit will create trading algorithms that make predictions based on historical data and statistical probabilities, said the person, who asked not to be identified because the information is private. The programs will learn as markets change and adapt to new information, as opposed to those that follow static instructions.