Dalio Criticizes Media ‘Distortions’ and Defends Bridgewater
- Bridgewater founder says WSJ portrays firm as ‘oppressive’
- Manager says turnover exceptionally low after first two years
Ray Dalio
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Ray Dalio, founder of the world’s biggest hedge fund, lambasted inaccuracies in the mainstream media as a threat to society, citing what he says are distortions about his firm in a Wall Street Journal story last month.
The Dec. 22 article, which described software being developed by Bridgewater Associates to automate management decisions, portrayed the firm as “being a crazy, oppressive place run by a Dr. Frankenstein type character,” Dalio wrote on his LinkedIn page Tuesday. The Journal’s description of the program -- which uses data from sources including employee ratings of each other and personality tests -- was “sensationalistic and misleading,” he wrote.