Fairfield University Bennett Center Winter/Spring 2015 Lecture Series
Leslie Clarke Homes, your real estate solution, Westport, CT 203-984-1856Westport Downtown Merchants Association
Westport Country Playhouse 2015 Season on Sale Now!
Sunday, April 26, 2015

Every Body

A Place for Women to Build a Stronger Center

new TRX CLASS combines strength
& corework

4-week session begins April



Boland Bros. Painting Company LLC
Painting Company

For all of your painting and wallpapering needs.

Call George now for a free estimate:

Mention WestportNow and get 10% discount

Marine Center

It's cold. Great time to
Valet Rack or
In-Water Slips

Reserve NOW
Don't Miss Out!

144 Water Street
South Norwalk


Westport Modular

Live Better at the Same Address in a Better-Built Home

Learn how modular homes are built
on your property.

Call 203-858-7198

Tear Down Specialists!

Westport Writing Workshops

How to Get Unstuck

Feb. 4, 9 am - Noon

Arcudi's Restaurant


Thursday, March 03, 2011

Bridgewater’s Ray Dalio: There’s a Cultural ‘Misunderstanding’

Digg Favicon Email Favicon Facebook Favicon LinkedIn Favicon

The media-shy head of Westport-based Bridgewater Associates went public today to dispel what he said was a misunderstanding about the culture of the company that runs the world’s largest hedge fund with $87 billion in assets.WestportNow.com Image
Ray Dalio: Employment has been impacted by reports about Bridgewater’s culture which involves intense criticism of employees. (CLICK TO ENLARGE) WestportNow.com photo from CNBC

Ray Dalio, in an appearance on CNBC from Los Angeles, spoke a day after a cover story in a trade journal which said Bridgewater’s rapid expansion had led Dalio to “institute a bizarre culture of criticism.” His firm’s 1,100 employees in four locations make Bridgewater Westport’s largest private employer.

Explaining his decision to appear on the cable business channel, Dalio said, “I’ve been getting too much media attention.”

He added, “Generally speaking there’s a misunderstanding I think a little bit about our culture and reports that’s affected employment and people hiring, and I wanted to clear up some of those points and offer myself out to let people ask me about the culture.”

Dalio, president, CEO, and chief investment officer, said: “We’re a group of independent thinkers. In order to make money in the market, you have to be an independent thinker, and I think creative, you have to be willing to make mistakes.”

Specifically speaking about company policy, Dalio said: “And so the process is that anybody in the company if anything doesn’t make sense to them, they can bring up what doesn’t make sense to them in a non-hierarchical way whether it’s true or not and what we should do about it.”

Previous published reports had highlighted a Bridgewater rule that no employee can criticize another unless that other employee is present.

“We particularly like looking at mistakes or weaknesses that we have in order to get stronger,” Dalio said.

“I believe that the biggest impediment to personal improvement is the ego reaction to making mistakes and if we could just get past that we get to grow at a faster rate. We get to improve at a faster rate. So that’s what our culture is.

“We have a radically transparent culture so that everything is on tape. Everybody can listen to practically every meeting unless it’s just proprietary so because of that openness, we know what’s going on.

“The only problem that we have sometimes is that there’s an ego attachment to looking at one’s mistakes and it’s a shame. So it’s not for everyone and that’s our basic culture.”

The magazine AR, which prompted Dalio’s appearance, called him “an enigmatic character whose economic insights are pored over by central bankers across the globe.”

But it said he is starting to pull back, selling 20 percent of his and his family’s trust equity to senor executives and the firm itself, although he maintains control.

“Moreover, Dalio had been trying to institutionalize the firm’s brutal culture to prepare Bridgewater without him by penning a book to live and work by, which he calls simply, ‘Principles,’” it said.

The balance of the CNBC interview focused on Dalio’s view of the current investment climate. He said there is an opportunity now to make money, especially by investing in non-dollar denominated instruments and gold.

“I think it’s inevitable that the dollar’s role as world currency will diminish from the dominant world currency to one of the few,” he said. “And it will happen over a gradual time.”

He said this was a good time to invest in equities because of the economic cycle.

Posted 03/03 at 02:49 PM

Comments:     Comment Policy

No comments yet.

You need to Register and be logged in to post comments. If you are already registered but are not logged in, you can Login here.





Remember my personal information

Notify me of follow-up comments?

Submit the word you see below:

What is missing: North, South, East, ----? (4 character(s) required)

Please note by clicking on "Submit" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Inappropriate posts may be removed.

<< Back to main

Register / Log in
Registration is required to post comments.
Register  •  Login

Westport Women

talk about

Tune in every Monday, 12:30 pm.

Radio Show

AugustWest Chimney
Massage Envy Spa

For Me, it's Healthy AND Affordable

275 Post Road East

Introductory 1-hour Massage Session


Jillian Klaff Homes
River House Restaurant, Westport, CT

From Summerhouse in Nantucket & Renatos Palm Beach to the


3-course special
every night $21.95

299 Riverside Ave.
Westport, CT


Give to DonorsChoose
WestportNow.com Stuff

Note: WestportNow Publisher Gordon F. Joseloff is also First Selectman of Westport