Ray Dalio (Net Worth $10Billion) Bridgewater Associates $169 AUM
Ray Dalio (born 1949) is a foudner and manager of hedge fund Bridgewater Associates ($130 Billion AUM). He bought his first stock when he was twelve years old. It was the early 1960s and since he worked as a caddy he overheard all the golfers talking about the boom in the stock market. He bought shares of Northeast Airlines.
Founder & Co-Chief Investment Officer, Bridgewater Associates
Source Of Wealth hedge funds, Self Made
Self-Made Score 8
Residence Greenwich, CT
Citizenship United States
Marital Status Married
Education Bachelor of Arts / Science, Long Island University; Master of Business Administration,
Ray Dalio is the founder of the world’s biggest hedge fund firm, Bridgewater Associates, which manages some $160 billion. An important part of his empire is the All Weather fund, which makes up about $80 billion of Bridgewater’s assets. It returned 8.6% net of fees in 2014, an important turnaround after the fund stumbled in 2013. Bridgewater’s big Pure Alpha macro hedge fund returned 3.6% net of fees in 2014, a year in which many macro funds struggled. By comparison, the U.S. stock market, as measured by the Standard & Poor’s 500 index, returned 13.7% in 2014. Bridgewater’s Pure Alpha Major Markets fund, another Bridgewater hedge fund launched in 2010, returned 8.7% in 2014.
Ray Dalio went to Long Island University and while there became interested in trading commodity futures as they had very low margin requirements. After graduating in 1971, he spent the summer as a clerk on the NYSE. This was of course the summer of Nixon Shock and he experienced firsthand the breakdown of the global monetary system of Bretton Woods.
He went on to age MBA from Harvard Business School in 1973. After spending a year there, he traded futures at the brokerage firm of Shearson Hayden Stone, where his role comprised assisting businesses hedge their market risk by using futures. One year later he founded Bridgewater Associates.
Bridgewater ($169 billion AUM) in institutional money only – a fact that makes the firm unique amongst hedge funds. The strategy must be working. Bridgewater Associates enjoyed returns around 23% in 2011, a year when the average hedge fund lost roughly 4 percent. Bridgewater Associates has a variety of principles that lend to its success. It is a firm that values utter transparency, even when mistakes are made. As long as ownership is taken for the error and the reason behind the mistake learned from, the firm is accepting. Bridgewater Associates tries to keep everyone in sync, always questioning whether a premise is correct and does it make sense. This is how the firm manages itself and how it manages its investments. Bridgewater Associates, operating out of a 22 acre Westport, Connecticut campus and staffed with an army of over 1200 employees.