The quantitative shop now has more institutional money than
anyone else writes Iain Jenkins
Ray Dalio doesn't talk like a hedge fund manager. He is far
too theoretical for that, peppering his description of his
business with references to 'alpha', 'beta' and 'benchmarks.'
Yet he has built Bridgewater into one of the biggest and
fastest growing hedge fund groups in the world with over $8
billion of assets - and there is no sign of the growth coming
to an end any time soon.
Maybe it isn't that surprising that Dalio doesn't sound like
a hedge fund manager, because his company has its origins
firmly in the traditional investment world and is managing
close to $63 billion of institutional assets. The real surprise
is that he doesn't sound like a traditional investment manager
either. Instead, he uses a hybrid language somewhere between
the two worlds. And that is his edge and...