Ray Dalio, who runs the $US150-billion hedge fund Bridgewater Associates, said that the firm records all its employees’ conversations.
Dalio spoke about his firm’s eccentric culture at the Dealbook Conference on Thursday.
Recording the conversations is part of the fund’s culture of transparency, he explained.
“So yes, everything is taped so that everybody can hear every conversation.”
The only conversations Bridgewater doesn’t record might be related to a proprietary trade or a personal issue not related to the business, he added.
He explained that having recorded conversations means people won’t have spin. They can express what they’re thinking. He also believes it builds trust.
“It’s fantastic,” he said.
He also said that 35% of employees don’t get through the first 18 months at Bridgewater.
So hearing yourself speak probably is not for everyone.
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