FAST FIVE: Dalio's Bridgewater, Down 18.6% YTD, Sees $3.5 Billion In Redemptions And "Dozens" Of Layoffs
Dalio's Bridgewater, Down 18.6% YTD, Sees $3.5 Billion In Redemptions And “Dozens” Of Layoffs Tyler Durden Wed, 09/16/2020 – 11:51 It's been an ugly year, performance-wise, for the man that the entire industry seemed to be worshiping, without question, heading into 2020.
In addition to the fund's worst losses in a decade, there is a “sprawling list of troubles” being dealt with internally, according to Bloomberg.
We missed the pandemic going down and that is the reality.” And what changes has Dalio made to adjust.
The company's head of research is also at odds with the firm over the issue of unequal pay. Bridgewater has cut dozens of jobs amidst the chaos and its number of investors has dropped from 350 to about 300.
Clients that remain on the roster tout the firm's 10.4% annualized gain since 1991 – and its “unparalleled customer service”. Employees at the firm have been shaken up by the poor returns and the layoffs, however.