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The Alpha MastersUnlocking the Genius of the World’s Top Hedge Funds By Maneet Ahuja
Today I am reviewing The Alpha Masters: Unlocking the Genius of the World’s Top Hedge Funds. Read my other book reviews here. Like greedy children we investors tend to cling to every nugget of news about . . . Here’s Ray Dalio speaking at the Council on Foreign Relations. As usual, a must-watch: Over the weekend Barron’s ran a profile of Ray Dalio, founder of Bridgewater Associates, whose views on the macroeconomy are second to none: It’s hard to imagine anyone navigating the rough seas of the past decade more ably than Ray Dalio, master and commander of money-management firm Bridgewater Associates, which oversees $120 billion for a roster of global clients that include foreign governments, pension funds and endowments. The Westport, Conn.-based company is the world’s largest hedge-fund firm and one . . . The Economist has a must-read profile of Ray Dalio of Bridgewater Associates: “THE most beautiful deleveraging yet seen” is how Ray Dalio describes what is now going on in America’s economy. As America has gone through the necessary process of reducing its debt-to-income ratio since the financial crash of 2008, he reckons its policymakers have done well in mixing painful stuff like debt restructuring with injections of cash to keep demand growing. Europe’s deleveraging, by contrast, is “ugly”. Mr Dalio’s . . . Bridgewater Associates, the world’s biggest hedge fund with $125 billion AUM, retains the gloomy outlook and positioning that has served it so well in the recent past (+44% in 2010, +25% through November 2011). The Wall Street Journal ran an article on Bridgewater with commentary from Robert Prince, the co-chief investment officer. Some excerpts: “We’re in a secular deleveraging that will probably take 15 to 20 years to work through and we’re just four years in.” In Europe, “the debt . . . |
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