Photo: YouTube / MrNChoudhury
The “world’s most successful hedge fund manager” Ray Dalio is in the red after the first six months of 2012.The New York Post reports that Dalio’s Bridgewater Associates, the world’s largest hedge fund with $120 billion AUM, did not have many of its strategic investments pan out in first half of 2012.
Dalio’s Pure Alpha fund, which had double-digit returns in 2011, fell 2.7% during the first six months of 2012, the report said.
Bridgewater is known for having a global macro investing style, meaning that much of its bets are centered on inflation, exchange rates, GDP and other economic trends.
The firm has a strong devotion to the dollar. With Europe failing to do much of anything and a rising yen, Dalio’s dollar position pulled Pure Alpha into negative territory, according to The Post.
Pure Alpha also holds positions in gold and other commodities, which have had a rough first half of 2012.