Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Free Newsletter Sign Up

Bridgewater’s Year of Losses, Withdrawals and Uneasy Staff (1)

Sept. 15, 2020, 7:16 PM

Ray Dalio is having a very bad year.

So very bad, in fact, that the billionaire risks losing his coveted title as king of hedge funds.

Dalio’s $148 billion Bridgewater Associates has run up hefty losses this year, even as rivals have minted money in the topsy-turvy markets. The damage as of August: an 18.6% drop in the flagship Pure Alpha II fund.

Those losses, the worst in a decade, top a sprawling list of troubles that has plunged Bridgewater into a round of crisis management, according to more than 25 people with knowledge of the firm’s inner workings.

WATCH: Ray Dalio, the billionaire founder of investment management firm Bridgewater Associates, admits the firm has had a “bad year” so far.
(Source: Bloomberg)