A strange but profitable group
Everybody knows that things are strange at Bridgewater Associates LP. The stories of its confrontational meetings, its banning of cell phones, the instant feedback on superiors and subordinates are of part of the legend of the firm. But the article in Friday’s Wall Street Journal takes it to a new level. No matter how you slice it, the firm is weird – profitable, of course – but weird. The one thing that is for sure, though, is that whatever it is seems to be working for Ray Dalio, his colleagues and, of course, his investors. If you haven’t read the article about the supposed rift between him and his presumed […]
Thank you for telling me what I already know
Once again the popular press has come out against hedge funds and the lack of performance year to date. Congratulations, Barron’s and Forbes, you are now part of the club of financial journalists writing the same story over and over again. Whether performance is good, bad, or indifferent, hedge funds continue to be the evil that men and women do, according to these and other publications. I have two thoughts about this – first, yes, it is true the performance is poor – the numbers, you see, don’t lie – this is what makes investing great and, more important, transparent. The second is that investing is pure Darwinism – the […]