Bridgewater Celebrates Its 40th Anniversary

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[Music] foreign [Music] [Applause] ER I love you I formed Bridgewater in 1975. when I began all I wanted was meaningful work and meaningful relationships I came across Ray dalio in 1977 and we pursued our dream I was part of the generation of the very beginning when we crashed so for me seeing what my friend Ray and all of the people had built in the small part that I had a long long time ago when Ray and I were just two young kids very moving for me and we got to know all these money managers and Ray started asking the question he said you know we're telling all these people how to manage money why can't we do this ourselves and one thing led to another and you know our first client was the World Bank in the mid-1980s and from that point the rest was history and can you imagine that the World Bank give us five million dollars to manage this is our ragtag group they give us five million dollars to manage when I started we had nothing we shared a desk we shared a computer and we shared a cardboard box as a filing cabinet we got a call from the U.S treasury to come down to Washington and talk to them about inflation index bonds we were five minutes late and they had locked the doors and Ray just walks up and starts banging on the door for me this story still resonates um as a kind of analogy for how we had to do things back then was sort of barge our way into things we were turning the string into a reality because we in fact had everything we absolutely needed we had a small group of people who had a commitment and a passion just to do the right thing when I got here there were about 650 people so maybe a third of what we have today you could see the old Bridgewater was still a little bit there it's kind of really growing from a small company to a larger company what is to me the most important part is the people each thought represents a person who worked at Bridgewater by year everyone surrounds you here and they're very involved in thinking about how you're feeling that is supportive um it is like my second family we have all formed the community so this is what Bridgewater looks to me you all have relationships with each other that are magical relationships I found watching a family video we love each other and we drive each other crazy right and we drive each other crazy because of tough love I've been trying hard to take in some of Ray's coaching and it can be hard to understand so the drawings like this big circles and and then he's like I don't understand why you don't understand I faced this and said I know this guy loves me I know this is coming from Deep care and I took everything that I did and compared it to what was described in the principles and I started to see the gift that he was really giving I used to walk on Wall Street where people were not honest with me and coming here like really changed my life that was very shy very withdrawn and being at Bridgewater I'm more outspoken and I stand up for myself more and I love that what is it like it's it's humbling and it's rewarding and it's painful um but it's great we together as a community have been successful 73 billion give or take a few hundred million is what we made for our clients we're the number one firm out of 11 000 firms in one of the most competitive Industries in the world so that brings us to today we Face challenges together and our reality is that I with the help of a lot of great people have been able to build a remarkable past but have failed to build a sustainable future and so it's going to require you all to be successful and so I want to just read what I want for you I want a community in which you always have the right and obligation to make sense of things a real functioning idea meritocracy I want to help you all struggle well and evolve to get the most out of life but a born for all else I want the great Humanity that is Bridgewater [Music] for me it's a dream come true for other people maybe it's what the future holds meaningful work meaningful relationships they feed each other it's the greatest riches that one could have [Music] [Applause] [Music] thank you
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Channel: Principles by Ray Dalio
Views: 38,728
Rating: undefined out of 5
Keywords: 'ray, dalio', raydalio, principles, success, 'decision, making', 'principlesforsucess', 'business, books', 'graduates', 'how, to', 'advice', 'life, advice', 'tony, robbins', the, economic, machine, works', economics, economy, education, business
Id: DmVisbZ8K4w
Channel Id: undefined
Length: 5min 22sec (322 seconds)
Published: Tue Oct 04 2022
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