(Bloomberg) Ray Dalio built Bridgewater Associates into a $160 billion hedge-fund behemoth by making money for his investors for 18 consecutive years, including 2008. So the news that the firm’s flagship Pure Alpha fund, which bets on macroeconomic trends, lost 4.9% in the first half of 2019 was a shock — though it shouldn’t have been.
Ray Dalio Exposes the Unpredictability of the Markets
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