The only child of Italian-American parents, Ray Dalio was born in Jackson Heights, Queens, in 1949.
Dalio uses controversial management methods, including videotaping meetings and encouraging brutal honesty among staffers.
Now that the slowdown appears to have arrived, Dalio thinks it will be prolonged.
The current king of the hedge fund industry, Ray Dalio, can be found in Westport Ct.
The shift in currency rates, according to Dalio, will be akin to the Bretton Woods break-up in 1971.
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Dalio is an outdoorsman and naturalist of the Hemingway school: he likes to go places and kill things.
In his Principles, Dalio declares that acknowledging errors, studying them, and learning from them is the key to success.
When Dalio was eight, the family bought a three-bedroom house in Manhasset, and enrolled Ray in the local public school.
Now at age 63, Dalio is ceding more responsibility and selling ownership stakes in his firm to his employees and clients.
As a macro trader, Dalio is working in the tradition of George Soros and Julian Robertson, famous speculators who ranged across markets.
Not that Dalio makes any apology for his fortune or his profession.
His warnings ignored in Washington, Dalio issued more jeremiads to his clients.
To limit the risk, Dalio wrote that jewellers should purchase gold-futures contracts designed to rise in value when the price of gold falls.
Unlike some other hedge funds, Bridgewater has never made much money in the U.S. stock market, an area where Dalio has less experience.
Along the way, Callahan realized why Bridgewater Associates CEO Ray Dalio had been pushing him so hard to focus on the greater impact.
Once a tape recorder had been switched on, Jensen, McCormick, and Dalio discussed the possible promotion of an internal candidate to a senior-management role.
But Dalio also believes that his management principles play a role.
In 2007, Dalio predicted that the housing-and-lending boom would end badly.
No doubt Dalio has been eating a few shards this year.
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Naturally, Dalio sees this as a metaphor for how he invests.
By the early nineteen-eighties, Dalio had got married, started a family, and moved to Wilton, Connecticut, where he lived and traded out of a converted barn.
Hedge fund giant Ray Dalio of Bridgewater Associates warned today at a Council on Foreign Relations session that he was not bullish on oil going forward.
Like many successful financiers, Dalio justifies capitalism and his place in it as a Darwinian process, in which the over-all logic of the system is sometimes hidden.
Dalio is serenely convinced that the precepts he relies on in the markets can be applied to other aspects of life, such as career development and management.
Dalio insists that money has never been his main motivation.
Jensen and McCormick were nominally in charge, but Dalio took over, telling Peter that, during a previous management meeting, he had answered emotionally in response to questioning from Jensen.
While this inevitably introduces an element of human judgment to the investment process, Dalio insists it is still driven by the rules-based framework he has built up over thirty years.
He was tired of corporate politics and craved a setting where people spoke truth to power, but, he said, it took him a while to get used to dealing with Dalio.
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