One investor is peeved that his investment in Bridgewater lost him money.
The unnamed client, an executive from a defined benefit plan with more than $1.4 billion in assets, voiced his grievances to pionline.com, a pensions and investments website.
He tells them that Bridgewater “‘panicked at the most negative inflection point’ of the market’s decline, walloping performance by delevering at the worst possible time.”
Could he have done any better?
Robert Prince, Bridgewater’s co-investment chief does not seem to think so. If they had an opportunity to do it again, he says, “we would do it the same way.”
Prince does admit that had Bridgewater not gone into “safe mode,” the hedge fund portfolio might have doubled its 16% gain over the past year.
Pionline.com has the full report.
Business Insider Emails & Alerts
Site highlights each day to your inbox.