Ray Dalio’s Bridgewater Associates, the world’s largest
hedge-fund firm, with $120 billion in assets, has hit a rough patch. After leaving its rivals in the dust for the
past two years with mouth-watering double-digit returns, Bridgewater is now
trailing them. Its flagship fund, Pure Alpha, fell 2.7 percent in 2012’s first
half.
Dalio is a widely watched guru of the financial markets. But
his devotion to the dollar helped drive Pure Alpha into the red, a source close
to the fund told The New York Post.
As Europeans managed to hold their fragile union together,
the euro rebounded against the dollar in June. The dollar also fell against the
yen. Dalio recently told investors that
the US is in better shape than other countries. That said, his long Treasury
position lost money in June when rates backed up.
Bridgewater has also been invested in commodities like gold
and oil, which have tumbled.
Read more at
http://www.nypost.com/p/news/business/dalio_hits_midyear_off_YZ9r0phCCoZmoCwyuSrvXO
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