FAST FIVE: $138 Billion Bridgewater Set Up 50 "Tent Offices" In The Woods Outside Of Its HQ For Its Traders
headquarters so that its traders can “continue to work from their desks” while also “breathing fresh air,” according to the NY Post. The tents were set up in May and can accommodate about 50 of Bridgewater's 1,500 staff members.
Bridgewater is going to keep the setup through October or “until the weather gets too cold to comfortably work outdoors,” Bar Dea continued. Perhaps Bridgewater should stop doing its best Bear Grylls impressions and start focusing more on its returns.
We noted just days ago that it has been an ugly year, performance-wise, for Ray Dalio.
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.
Dalio doesn't want to adjust his computer models to add new data that's standard at other firms, including tracking oil tankers. Bridgewater has cut dozens of jobs amidst the chaos and its number of investors has dropped from 350 to about 300.