Bob Prince, co-CIO of the world’s largest hedge fund, correlates its long-term investment success with its unusual and demanding culture. Bridgewater employees rate each other’s performance, and their profiles are considered for “believability-weighted decision-making.” He explains how the firm recovered from a rough losing period in 2016 to become the most profitable hedge fund in 2016. Bridgewater Associates is as well known for being the world’s largest hedge fund, with $150 billion in assets under management, as it is for its quirky culture of “radical transparency.” At the firm’s Westport, Connecticut, office, the 1,500 employees abide by Bridgewater founder, chairman, co-CEO, and co-CIO Ray Dalio’s “Principles,” a collection of lessons on success and management that serves as a sort of constitution. Most meetings are recorded on camera or audio so that they may be scrutinized later if necessary, and employees constantly measure each other’s performance using an iPad app called Dots. It’s a demanding environment, and 30% of new employees leave within their first two years. But many who remain choose to embrace the Bridgewater way of life. From a performance side, Bridgewater took the title of “world’s largest hedge fund” in 2005 and has remained there. In February, London-based… Read full this story
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