Raymond Dalio (born August 1, 1949) is an American investor, hedge fund manager, and philanthropist. Dalio is the founder of investment firm Bridgewater Associates, one of the world's largest hedge funds. He is one of the world's 100 wealthiest people, according to Bloomberg.
Video Ray Dalio
Early life and education
Raymond Dalio was born in Jackson Heights, Queens, New York. He is the son of a jazz musician, Marino Dallolio (1911-2002), who "played the clarinet and saxophone at Manhattan jazz clubs such as the Copacabana," and Ann, a homemaker.
Dalio began investing at age 12. At this young age he bought shares of Northeast Airlines for $300 and tripled his investment after the airline merged with another company. Dalio received a bachelor's degree in finance from Long Island University (CW Post) and an MBA from Harvard Business School.
Maps Ray Dalio
Investment career
After completing his education, Dalio worked on the floor of the New York Stock Exchange and traded commodity futures. He later worked as the Director of Commodities at Dominick & Dominick LLC. In 1974, he became a futures trader and broker at Shearson Hayden Stone. In 1975, he founded, out of his apartment, the Westport, Connecticut based investment management firm, Bridgewater Associates which in 2012 became the largest hedge fund in the world, as it is today, with over $160 billion in assets under management, as of October 2014.
Dalio has said that he could continue improving his returns by solidifying recurring lessons into "principles."
Dalio was co-CEO of Bridgewater for 10 months before he announced in March 2017 that he would step down as part of a company-wide shake-up by April 15. The company had been in a seven-year management and equity transition to find a replacement. Jon Rubinstein, co-CEO of the fund, was announced to step down with Dalio, but would retain an advisory role.
Personal life
Dalio resides with his wife Barbara (married in 1976/77) in Greenwich, Connecticut, and is known to practice the Transcendental Meditation technique. They have four sons. Their son Paul Dalio is a film director. Their second son, Matthew A. "Matt" Dalio is founder and chairman of the China Care Foundation, a non-profit that seeks to help Chinese orphans, and CEO of Endless Mobile, a computer operating system company.
Political and economic views
In 2007, Bridgewater predicted the global financial crisis, and in 2008 Dalio published an essay, "How the Economic Machine Works; A Template for Understanding What is Happening Now", which explained his model for the economic crisis.
In 2011, he self-published a 123-page volume called Principles, which outlined his logic and personal philosophy for investments and corporate management based on a lifetime of observation, analysis and practical application through his hedge fund.
In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world. In 2011 and 2012 he was listed by Bloomberg Markets as one of the 50 Most Influential people. Institutional Investor's Alpha ranked him No. 2 on their 2012 Rich List. Dalio has a fortune of $15.9 billion, making him the 30th richest person in America and the 69th richest person in the world.
In 2013, Dalio began sharing his "investment secrets" and economic theories on YouTube via a 30-minute animated video which he narrates, called How The Economic Machine Works; the video has since been viewed over 4.6 million times, and has been translated and made available in Japanese, Chinese, Russian, Spanish, German, Italian and French.
Wealth and philanthropy
According to Forbes Magazine, Dalio has a net worth of $17 billion, as of July 2017.
In April 2011, together with his wife Barbara, Dalio joined Bill Gates and Warren Buffett's Giving Pledge, vowing to donate more than half his fortune to charitable causes within his lifetime. Through the Dalio Foundation, he has directed millions in donations to the David Lynch Foundation, which promotes and sponsors research on Transcendental Meditation.
Publications and works
- Dalio, Ray. How the Economic Machine Works; A Template for Understanding What is Happening Now. (2007)
- Dalio, Ray. Principles. (2017)
- Best Business Books of 2017, CNBC.
References
External links
- Profile at Forbes
- Ray Dalio on Charlie Rose
- "Most Influential 50 People in Global Finance" Bloomberg Markets, September 7, 2011
- "Mastering the Machine" New Yorker, July 25, 2011
- "In Punishing Year for Hedge Funds, Biggest One Thrived" The New York Times, January 26, 2012
- "Ray-man running hedge fund in his own image" Financial Times, March 2, 2012
- "Ray Dalio Quotations"
- Ray Dalio: How The Economic Machine Works (video) on YouTube
Source of the article : Wikipedia
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