, Columnist
A Hedge Fund Giant Found Lots of Value in Failure
The world's biggest hedge fund springs from the wreckage of his monumental error.
Chalk it up to a learning experience.
Photographer: Andrew Harrer/BloombergBy any conceivable measure, Ray Dalio, head of Bridgewater Associates LP, is a wild success. The founder of the world’s largest hedge fund with $160 billion in assets under management is one of the world’s 100 wealthiest people; the firm he built has been called the fifth most important private company in America; his new book “Principles: Life and Work” is a New York Times best seller.
Given all of these accomplishments, it is surprising to learn what Dalio attributes the secret of his success: Failure.