Born on August 8, 1949 in New York, Ray Dalio founded a hedge fund “Bridgewater Associates” that has since become the world’s largest with over $130 Billion in AUM (as on June 2019). He started investing in stocks at the early age of 12 and graduated from Harvard Business School.
He started his career as a commodity futures trader at the New York Stock Exchange and went on to work as trader for Dominic and Dominic LLC and then Shearson Hayden Stone. After being fired from Shearson Hayden Stone, he started his own investment management firm, Bridgewater Associates.
He is credited with developing the “All Weather Investment” strategy that aims to build a portfolio to perform well in all market environments.
In 2007 he predicted the Global financial crisis in a widely read essay titled “How the Economic Machine Works: A template for understanding what is happening now”.
A self-published author, he wrote the New York Times best seller “Principles: Life and Work” in 2017, which sold over 2 million copies.
Dalio has been a long standing critic of the current form of capitalism and wealth inequality that comes with it.
