Ray Dalio

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Ray Dalio (born August 1, 1949) is an American businessman and founder of the investment firm Bridgewater Associates.[1] In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.[2] 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.[3][4] 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.[5][6]

Early life and education[edit]

Dalio was born in Jackson Heights, Queens, New York, United States.[7] 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.[8] He received his BA from Long Island University and an MBA from Harvard Business School.[8]

Career[edit]

After completing his education, Dalio worked on the floor of the New York Stock Exchange and invested in commodity futures.[8] He later worked as the Director of Commodities at Dominick & Dominick LLC.[9] In 1974, he became a futures trader and broker at Shearson Hayden Stone.[8] In 1975, he founded the Westport, Connecticut based investment management firm, Bridgewater Associates which in 2012 became the largest hedge fund in the world, as it is today with about $154 billion in assets under management, as of February 2014.[8]

In 2007, Ray Dalio predicted the global financial crisis, [10] and in 2008 published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now",[11] which explained his model for the economic crisis. He self-published a 123 page volume called Principles, in 2011, which outlined his logic and personal philosophy for investments and corporate management based on a lifetime of observation, analysis and practical application through his hedge fund.[12][13][14] In 2013 Dalio began sharing his "investment secrets" and economic theories on YouTube via a 30 minute animated video which he narrates, called How The Economic Machine Works.[15]

Personal[edit]

Dalio was born as the only child of Italian American parents.[16] He practices the Transcendental Meditation technique and resides with his wife in Greenwich, CT.[8][17][18][19]

Notes[edit]

  1. ^ "Ray Dalio, Founder of World’s Largest Hedge Fund: Weak Economy Makes Second Adolf Hitler More Likely". Algemeiner. Retrieved 19 March 2013. 
  2. ^ Volcker, Paul (18 April 2012). "The 100 Most Influential People in the World". Time. Retrieved 15 August 2012. 
  3. ^ Taub, Steven (2013-04-15). "The Rich List". Institutional Investor’s Alpha. Retrieved 2013-04-16. 
  4. ^ Hedge Fund Titans’ Pay Stretching to 10 Figures April 15, 2013 New York Times
  5. ^ Ray Dalio Forbes profile page Forbes.com. Retrieved January 2012.
  6. ^ Mason, Melvin. "Greenwich Home to Billionaires on Forbes List". The Greenwich Daily Voice. Retrieved 26 July 2012. 
  7. ^ Cassidy, John (25 July 2011). "Mastering the Machine". The New Yorker. 
  8. ^ a b c d e f "Pursuing Self-Interest in Harmony With the Laws of the Universe and Contributing to Evolution is Universally Rewarded" Kevin Roose, April 10, 2011, New York Magazine
  9. ^ "Radical Transparency" 2010, Leaders Magazine. Volume 33, Number 3
  10. ^ Cassidy, John (July 25, 2011). "Mastering the Machine How Ray Dalio built the world’s richest and strangest hedge fund". The New Yorker. Retrieved December 18, 2013. 
  11. ^ [1] How the Economic Machine Works; A Template for Understanding What is Happening Now- Ray Dalio, October 31, 2008
  12. ^ Ovide, Shira (October 22, 2010). "More on Bridgewater’s Ray Dalio, Wall Street’s Oddest Duck". The Wall Street Journal. Retrieved December 4, 2013. 
  13. ^ Dalio, Ray (2011). "Ray Dalio’s Principles". 
  14. ^ Rosenthal, Norman E. (2013). "The Gift of Adversity". The Gift of Adversity. Penguin Group. pp. Chapter 41. Retrieved December 4, 2013. 
  15. ^ Sorkin, Andrew Ross (October 21, 2013). "Economic Theory, via YouTube and Cartoon". New York Times. Retrieved December 4, 2013. 
  16. ^ http://www.theburningplatform.com/?tag=ray-dalio
  17. ^ Opalesque (8 January 2008). "Ray Dalio’s winning strategy". 
  18. ^ Comstock, Courtney (October 25, 2010). "Ray Dalio Is Too Modest To Admit He Returned 38% YTD Using Transcendental Meditation". Business Insider. 
  19. ^ Weizel, Richard. "Eight County Billionaires Make Forbes Richest List". The Norwalk Daily Voice. Retrieved 13 July 2012. 

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