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Follow on Google News | Ray Dalio Bridgewater AssociatesRay Dalio Bridgewater Associates. With $120 billion in assets under management, Dalio’s Bridgewater Associates continued to post spectacular returns in 2011 even as the average hedge fund lost money.
By: hedgehoe His methods are controversial and include videotaping meetings and encouraging brutal honesty among staffers. This tack has paid off handsomely during the recent market turmoil. The son of a jazz musician, Dalio founded Bridgewater in his Manhattan apartment in 1975. At age 62, he is now trying to make sure the firm survives him, ceding more responsibility to senior staff and selling chunks to his employees and clients. His hedge fund, Bridgewater Associates, for example, is known for its secrecy — some even say that it’s cultish — and potential employees are often vetted for their personalities. They need to match the rest of the team on campus in Westport, Connecticut. Then again, Dalio is also very public about certain things. He’s very open about his manifesto on investing, which he calls his ‘Template for Understanding Read More about Bridgewater Secret Blackbox Revealed Right now, he’s the most successful hedge fund manager in the world, and according to Forbes he’s the 88th richest person on the planet with an estimated net worth of $10 billion. Dalio was born in Jackson Heights Queens in 1949. He wasn’t a great student when he was younger, saying he had a bad memory and didn’t like studying. Dalio got into investing after he got a great stock tip while caddying at Links Golf Club. He holds a BA from Long Island University, and an MBA from Harvard. He continued trading independently when he went to Harvard Business School, and landed a job on Wall Street when he got out. Sometime in his 20s, he found out the Beatles were into transcendental meditation and tried it out. He is also one of few hedge fund managers who ‘s story goes rags to riches. He said it made him better at school and now he does it every day, and he thinks it’s the reason for his success. Here’s why: “I notice a difference from the moment I meditate. I can be stressed, or tired, and I can go into a meditation and it all just flows off of me. I’ll come out of it refreshed and centered and that’s how I’ll feel and it’ll carry through the day.” He’s also amazed by nature. “Man will never be able to build a flying device like a mosquito,” he told the WSJ. “I look at nature’s complexity and think, man has the intelligence of mold growing on an apple.” He’s also an avid bow hunter and likes to shoot deer and elk. That’s very zen, but Dalio lost his first Wall Street job after getting drunk and punching his boss. This story is nuts. After Business School, Dalio got a job in the commodity futures department at Shearson Hayden Stone, the brokerage firm run by Sandy Weill. On New Year’s Eve in 1974, Dalio went out drinking with his departmental boss, got into a disagreement, and slugged him. About the same time, at the annual convention of the California Food & Grain Growers’ Association, he paid an exotic dancer to drop her cloak in front of the crowd. He convinced some clients to hire him as a consultant, and at 26, founded Bridgewater. He worked out of his two bedroom apartment. http://www.hedgeho.com/ Now Dalio and his wife Barbara live on a 5,500 sq. foot estate in a gated section of Greenwich. The couple has four kids and they live in an 1891 5,500-square- http://www.hedgeho.com/ End
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