Ray Dalio (born August 1, 1949) is an American businessman and founder of the investment firm Bridgewater Associates. In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world. In 2011 and 2012 he was listed by Bloomberg Markets as one of the 50 Most Influential people. Institutional Investor’s Alpha ranked him No. 2 on their 2012 Rich List.
Early life and education
Dalio was born in Jackson Heights, Queens, New York, United States. The son of a jazz musician, Dalio began investing at age 12 when he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. He received his BA from Long Island University and an MBA from Harvard Business School.
After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. In 1975, he founded the Westport, Connecticut based investment management firm, Bridgewater Associates which in 2012 became the largest hedge fund in the world with nearly $120 billion in assets under management.
In 2007, Ray Dalio predicted the depression, and in 2008 he published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now", which explained his model for the economic crisis. He self-published a 123 page paper called Principles, in 2011, and used logic and personal experience to convey his views on investment and corporate management. In 2013 Dalio began sharing his "investment secrets" and economic theories on You Tube via a 30 minute animated video called How The Economic Machine Works.
Dalio was born as the only child of Italian American parents. He practices the Transcendental Meditation technique and resides with his wife in Greenwich, CT. According to Forbes he is the 31st richest person in America and the 88th richest person in the world with a net worth of $10 billion as of March 2012. Dalio has been labeled the Steve Jobs of investing.
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- Profile at Forbes
- "Most Influential 50 People in Global Finance" Bloomberg Markets Magazine, September 7, 2011
- "Mastering the Machine" New Yorker, July 25, 2011
- "In Punishing Year for Hedge Funds, Biggest One Thrived" New York Times, Dealbook, January 26, 2012
- "Ray-man running hedge fund in his own image" Financial Times, March 2, 2012
- "Ray Dalio Quotations"
- Ray Dalio: How The Economic Machine Works (video)