(Repost because of the timeline stuff after the merge - the original post was removed @anon810895)
4 March 2020:
Ray Dalio’s Bridgewater Associates is down 8% this year through February in its Pure Alpha II strategy after posting a loss during last month’s market turmoil, according to people familiar with the matter.
Pure Alpha II lost money last year for the first time in two decades, declining 0.5%, Bloomberg reported in January. It’s averaged returns of about 4% a year since 2011.
(Source - Bloomberg - Are you a robot?)
7 January 2020:
- Bridgewater’s most leveraged fund declined 0.5% last year
- This is Dalio’s fourth yearly loss since beginning in 1991
…
Ray Dalio suffered his first annual loss since 2000 in his most prominent fund.Bridgewater Associates Pure Alpha II fund fell 0.5% last year, even as many of his peers posted some of their best returns since 2008.
It was the fourth time he has lost money in a calendar year since starting Pure Alpha II in 1991, according to data compiled by Bloomberg and a person familiar with the results.
Dalio, whose firm manages about $80 billion in so-called macro funds, has had an annualized return of about 4% since the end of 2011 – even after his Pure Alpha II fund jumped almost 15% in 2018. Since inception, the fund gained 11.5% on an annual basis.
…
Here are some other returns for macro managers:
- Alan Howard’s Brevan Howard Master Fund returned 8.4% last year
- Bradley Wickens’s Broad Reach Fund returned 42.3% for 2019
- Greg Coffey’s Kirkoswald Asset Management was up 29% through October.
(Source - Bloomberg - Are you a robot?)
4 December 2019:
- Billionaire’s recent book has sold more than 2 million copies
- His macro fund is down about 2% this year, trails some rivals
…
Following peak returns of 45% in 2010 and 25% in 2011, the fund’s performance has struggled. Dalio’s flagship has returned an annualized 3.8% since the start of 2012, even with a 15% gain last year. That places it behind standouts such as Jeff Talpins’s Element Capital Management and Tudor Investment Corp. for the period, and it’s the same story over the past three years, according to data compiled by Bloomberg.
…
Of course, Bridgewater isn’t alone in trailing the markets for much of this decade. In recent years, macro managers have found it hard to make big profits trading in their usual fare of government bonds, currencies, commodities and stock indexes. In their heyday, these funds regularly produced double-digit gains. Bridgewater has racked up an annualized 11.4% since its start in 1991. (Paul Tudor Jones and Louis Bacon, who both started in the 1980s, have done even better.)
The difference between Dalio and his peers is investor response to the recent performance. In many cases, clients have fled. Perhaps the hardest hit has been Brevan Howard Asset Management, where assets peaked at more than $40 billion in 2013. It now manages about $7.5 billion. Bacon, who founded Moore Capital Management, said last month he was stepping back from his duties in part because of low returns.
…
Yet for many investors, Dalio’s reputation is undimmed – even for people like Michael Rosen, chief investment officer for Angeles Investment Advisors, which manages money for endowments and foundations. While Rosen dropped Bridgewater several years ago because he doesn’t think a macro strategy makes sense in the current environment, it didn’t affect his view of the founder.
(Source - Bloomberg - Are you a robot?)
@anon810895 merge Ray Dalio all weather portfolio ETFs - #2 with this thread maybe?