Ray Dalio is a monster, suggests a new book. Is it fair?
The founder of the world’s largest hedge fund comes under scrutiny
The tome opens with Ray Dalio laying into an employee he apparently knew to be pregnant. He calls her an “idiot” over and over, until she runs from the room sobbing. The founder of Bridgewater Associates, the world’s largest hedge fund, was supposedly “delighted”. His “probing” of this woman was evidence of his commitment to “truth-seeking” at any cost. The meltdown, which had been recorded, was uploaded to a library of firm meetings. He had it edited into a clip to be shown to future employees.
This article appeared in the Finance & economics section of the print edition under the headline “Pure alpha male”
Finance & economics November 18th 2023
More from Finance & economics
Europe could be torn apart by new divisions
The continent is at its most vulnerable in decades
How corporate bonds fell out of fashion
The market is at its hottest in years—and a shadow of its former self
An American purchase of Greenland could be the deal of the century
The economics of buying new territory
China’s markets take a fresh beating
Authorities have responded by bossing around investors
Can America’s economy cope with mass deportations?
Production slowdowns, more imports and pricier housing could follow
Would an artificial-intelligence bubble be so bad?
A new book by Byrne Hobart and Tobias Huber argues there are advantages to financial mania