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 […]
The fall will probably kill ya
One of my favorite films is the Newman and Redford classic Butch Cassidy and the Sundance Kid. It’s almost a perfect movie. One of my favorite scenes is when Sundance reveals that he doesn’t want to jump off the ledge because he can’t swim and Butch so eloquently says, “Why, you crazy — the fall’ll probably kill ya!” Spoiler alert, they jump and make it. Nobody drowns and nobody gets hung up on the rocks or brush. This is a great analogy to what is happening at hedge fund trading desks amidst all this market volatility and uncertainty. I am sure it was a big surprise to no one that […]