15 Things You Didn't Know About BRIDGEWATER ASSOCIATES

fifteen things you didn't know about Bridgewater associates welcome to a Lux calm the place where future billionaires come to get inspired hello a Luxor's and welcome to another exciting original video presented by Alex calm today revealing some interesting and surprising facts about the number one hedge fund in the world Bridgewater associates Bridgewater Associates was started in 1975 by Ray Dalio out of his two-bedroom apartment in New York City Ray attracted attention to his business through the publication of a research report entitled daily observations which is now read by leaders of central bank's large corporations and managers of pension funds around the world because of dahlias impressive knowledge and keen intuition in the investment sector his company grew quickly by the mid-1980s he had several big-name clients that invested millions of dollars through his company he moved the company to a headquarters in Connecticut in 1990 Bridgewater launched a hedge fund portfolio using funding from Kodak and lowe's corporation it was the fastest growing asset manager from 2000 until 2005 when it stopped accepting new accounts the company has developed a reputation based on its unique culture that revolves around dahlias personal beliefs including the ideas of radical truth and radical transparency in 2017 it remains the largest hedge fund in the world with around one hundred and fifty billion dollars in managed assets at Alex calm we are serious about money and it's clear that one way people become billionaires is by making the right investments with the right people so it's definitely worth taking a closer look at such a massively successful investment company as Bridgewater associates if you are new here welcome be sure to subscribe and follow us on instagram at a luxe so let's dig a little deeper now with the 15 things you didn't know about Bridgewater associates number one Ray Dalio has a net worth of 17 billion dollars as of October 2017 Ray Dalio net worth is a total of 17 billion dollars which makes him the 26th richest person in the United States and the 54th richest person in the world number two one in three new employees quits or gets fired in the first two years an article in Bloomberg reported that one in three new hires quits or gets fired within the first two years of working for the company founder Ray Dalio is the first to admit that the company culture is not for everyone so it's not surprising that the turnover rate is so high those who do make it with the company are reported to have the benefit of generous compensation and a family-like atmosphere number three the company buses employees in from Manhattan every day unlike most big financial companies Bridgewater stays far away from Wall Street and the big city its headquarters is located in a wooded area in a small suburb called Westport Connecticut it's about an hour outside of Manhattan but employees who prefer the big city life can have the best of both worlds if they're willing to endure a long daily commute Bridgewater provides a luxurious bus to transport their employees who wish to live in New York City it picks them up in Manhattan every morning and drops them off every evening number four former FBI director James Comey worked for Bridgewater Bridgewater's general counsel from 2010 to 13 was James Comey who was the former United States Deputy Attorney General and the director of the United States Federal Bureau of Investigation until he was scandalously dismissed by President Trump in May of 2017 number five all meetings are recorded and can be viewed at any time by any employee every meeting at Bridgewater is recorded whether it's a small departmental meeting a person getting fired or a high-powered strategy session with the CEO and everything in between as part of the company's policy of honesty and transparency any meeting can be viewed at any time by any employee if an employee's name is mentioned in a meeting where they are not in attendance the recording of the meeting will be sent to them employees also spend at least an hour each week watching recordings of meetings and answering related questions as a training tool number six Bridgewater is run based on Dolly oz 210 rules in 2005 Bridgewater was bringing in hundreds of new employees and Dalio thought it was important for everyone to understand the company's culture so he wrote a 123 page handbook entitled principles in the first half of the handbook Dahlia gives his autobiography an explanation of radical transparency and a step-by-step guide to personal evaluation the second half gives 210 rules or principles that contribute to the unique landscape of the company the book has been described as part self-help book part management manual and part manifesto the principles were downloaded over 3 million times by people outside of the company before they were expanded and revised and published in a book that became a number one New York Times bestseller in 2017 [Music] number 7 any employee can harshly criticize the founder and CEO anytime without retribution Dalio has said that one of his favorite aspects of the company culture is that new employees fresh out of college can give him harsh criticism without fear of getting fired or experiencing any other form of retribution Dalio has no problem with being criticized in fact he encourages all of his employees to be critical of each other so that everyone can improve on their shortcomings number 8 Bridgewater has more assets than the next three largest hedge funds combined Bridgewater associates is the largest hedge fund company in the world by far with one hundred and fifty billion dollars in hedge fund assets under their management they have more assets than the next three largest hedge fund companies combined those companies are AQR Capital man with sixty nine point six billion dollars in assets JP Morgan Asset Management with forty five billion dollars in assets and Renaissance Technologies with forty two billion number nine Dali Oh had an app made so that employees can constantly critique each other the corporate culture of Bridgewater associates is said to rely on radical truth and radical transparency one way that CEO Dalio promotes this culture is through a proprietary iPad app called dots that be 1,500 Bridgewater employees are using to constantly rate each other across over 100 attributes on a one to ten scale Dalio introduced this app at a TED talk in April of 2017 the attributes measured include logical reasoning willingness to touch a nerve spends money wisely living in truth Common Sense and learning on the fly for an example of how this technology works everyone in a meeting would have the app open and would be constantly rating others during the discussion including da Leo himself if he's present and the others in the meeting can see in real-time who rated them and what they were rated da leo says this technology makes operations more effective and improves relationships number 10 Ray Dalio attributes his success to Transcendental Meditation Ray Dalio says that Transcendental Meditation has been the single biggest influence on his life and it is also what he tributes his success to more than anything else he has been practicing this specific type of meditation for more than 40 years Transcendental Meditation is said to reveal a fourth state of consciousness beyond wakefulness sleep and dreaming Dalia says that being in this state helps him remain calm and centered and that it enables him to put things in perspective and think clearly he's such a believer in the practice that he helps to pay for any employees who wish to learn the meditation techniques he uses if you want to learn about another successful person who is into this type of meditation click on the upper right hand corner to watch our video of 15 things you didn't know about Joe Rogan number eleven McDonald's was one of their first major clients after Dahlia founded Bridgewater from his apartment he began to set himself apart by publishing a paid subscription research report called the daily observations the notes and advice Dahlia included in his reports gave McDonald's Corp and their main supplier the confidence to become clients and invest millions through Bridgewater associates Nabisco was also one of fridge waters early clients [Music] number 12 Dahlia saw the financial crisis of 2008 coming long before most others did Dahlia crafted an investing theory and identified patterns and cycles in the global economy which allowed him to predict a boom or bust coming from a mile away the system is incredibly effective which is evidenced by the fact that their flagship fund has lost money only three years in the history of the company thanks to the system Bridgewater associates was able to predict the 2008 recession back in 2006 and were able to prepare well in advance investing in gold US Treasury bonds and the yen one risk metric caused them to pull the company's entire positions in several banks including Lehman Brothers and Bear Stearns just a week before these banks imploded thanks to da Leo's incredible awareness of the global economy 80% of Bridgewater's accounts were in the black even during the worldwide recession number thirteen Dalio says going broke is the best thing to ever happen to him in 1982 only a year after Bridgewater moved into a proper office in Connecticut Dalio made a miscalculation in his investment strategy when he expected the stock market to fall dramatically but instead it increased significantly this error cost him and his clients dearly he remembers being so broke that he had to borrow money from his father just to get by da Leo says that this was the best thing to ever happen to him it taught him fear and humility and changed his entire approach to business number fourteen Bridgewater associates has produced more net gains than any other hedge fund in history Bridgewater associates surpassed George Soros s investment firms as the most successful hedge fund in history in terms of net gains as of 2016 cirrhosis investment vehicles have produced forty two point eight million dollars and Bridgewater has produced net gains totaling forty five billion since it was founded back in nineteen seventy five number fifteen Bridgewater earned four point nine billion dollars for its clients in 2016 at a time when negative returns are plaguing the hedge fund industry Bridgewater brought in an impressive four point nine billion dollars in gains in 2016 alone none of the other firms even came close now that you've learned more about Bridgewater associates we'd like to know is the culture of a company important to consider when choosing who to do business with or our results the only thing that matter let us know what you think in the comments still here here's a bonus fact just for you some of the 210 principals da Leo has included in his list are never say anything about a person you wouldn't say to them directly be radically transparent don't treat all opinions as equally valuable trust in truth evaluate people accurately not kindly and firing people isn't such a big deal thank you for spending some time with us a lexer make sure to subscribe so you never miss a video if you want more we hand-picked these videos you might enjoy or head over to Alex calm for the best in fine living content on the planet be a part of the largest community of luxury enthusiasts in the world and tell your story

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Views: 95,201

Keywords: Alux, Alux.com, Alux Youtube, luxury living, luxury lifestyle, luxury homes, luxury cars, fastest cars, alux watches, fine living, most expensive things in the world, new life, most expensive, extravagant things, billionaire lifestyle, ray dalio, bridgewater associates, hedge funds, ray dalio net worth, bridgewater headquarters, bridgewater offices

Id: Xc3kcMD5F4o

Length: 12min 59sec (779 seconds)

Published: Thu Nov 02 2017