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 . . .