Published by Macmillan Business, 2023, 338 pages, index, condition: as new. The unauthorized, unvarnished story of famed Wall Street hedge-fund manager Ray Dalio.
When Ray Dalio, billionaire founder of Bridgewater Associates, the worlds largest hedge fund, announced in October 2022 that he was stepping down from the company he founded 47 years ago, the news made headlines around the world. Dalio achieved worldwide fame thanks to a mystique of success cultivated in frequent media appearances, celebrity hobnobbing, and his bestselling book, Principles . In The Fund , Rob Copeland draws on hundreds of interviews with those inside and around the firm to reveal what really goes on with Dalio and his cohorts behind closed doors.
Tracing more than fifty years of Dalios leadership, The Fund peels back the curtain to reveal a rarified world of wealth and power, where former FBI director Jim Comey kisses Dalios ring, recent Pennsylvania Senate candidate David McCormick sells out, and countless Bridgewater acolytes describe what its like to work at this fascinating firm.
Dalio has stepped down from Bridgewater before; will the legacy of his Principles continue to chart the course of the firm? The Fund provides unique insight into the story of Dalio and Bridgewater, past, present and future.
Unnerving and excellent. Absorbing. This may be perceived in some quarters as a kind of attack but the author here is really just holding up a mirror. What is grotesque and troubling (like all personality cults) is just the plain old unadorned reality. The reporting seems faultless and completely fair.
A deep view into a cringe inducing, dystopian, police mini state, a living hell called Bridgewater. Its cultish leader is the famed billionaire Ray Dalio, a fragile egotistical, small man. Also a commentary on how much humans can debase themselves to earn money or be in the good books of a cult leader. The amount of sycophants that one can summon is staggering. Men and women humiliated in inquisitions, young women sexually harassed, the book is replete with tidbits that I think might make this place illegal. How did the hedge fund become the largest in the world despite the putrid work culture? Nobody knows. There are hints that Ray Dalios trading strategy involves nothing more than basic if-then statements that trigger trades based on macroeconomics factors( ex: country X interest rate goes up currency goes down- take a position that bets against it), and/or some informational advantage he may have cultivated with mid-rung government officials and central bankers. Superbly written by the journalist from the Times.
