Saturday, December 15, 2012

Bad trip for fund genius in 2012




Ray Dalio, who runs the world’s largest hedge-fund firm, the $130 billion Bridgewater Associates, is in danger of losing his hard-won serenity.  Dalio, known for practicing transcendental meditation and creating a cult-like atmosphere at the Westport, Conn., firm, is just weeks away from stumbling to a loss for the year.

The loss comes just 12 months after Dalio achieved near-genius status for doing what few hedge-fund titans have done: chalking up two back-to-back years of huge double-digit gains in his main macro fund.

Now, looking to make a comeback, Dalio this week predicted that interest rates would rise in the latter part of 2013, while suggesting any fiscal deal would depress the economy….. “

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