To add to ^^this^^:
Bridgewater Associates world’s biggest hedge fund makes record short positions this week.
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billionaire founder Ray Dalio’s Bridgewater Associates hedge fund holds no. 1 spot, above George Soros Fund Management.
In the past week, Bridgwater shorted on:
Unilever
French oil group Total
Deutsche Bank
German industrial group Siemens
Italian bank Intesa
French Pharmaceutical company Sanofi (sanofi.us/en/) US offices in Bridgewater, NJ.
among others.
Cut back on shorts in the Netherlands, Spain and Ireland, while increased them in Germany and Italy, according to Reuters.
BG Master Fund, based in Dublin, disclosed 0.4 percent short position against German Commerzbank. London-based Marshall Wace has made similar bets across Europe.
Now, it could just be that they are making these decisions based on upcoming elections in Italy and the unsettled political situation in Germany. Both electorate results will be announced in the first week of March 2018.
Dalio founded Bridgewater in 1975 and stepped down as Co-CEO as part of a company-wide shake-up in March 2017. He was Co-CEO for 10 months (according to his Wiki page). The company had been in a seven-year management and equity transition to find a replacement and seems to have settled on current Co-CEO's.
James Comey was an executive from 2010 to 2013.
Ex-Apple Executive Jon Rubinstein hired as Co-CEO in March 2016 also stepped down one year later in March 2017 at the same time as Dalio.
Both Dalio and Rubinstein have advisory roles now.
Dalio was at Davos this year (2018).
His son, Matthew Dalio, is founder and chairman of the China Care Foundation (non-profit that seeks to help Chinese orphans). He’s also CEO of Endless Mobile.
Who is Co-CEO of Bridgewater now?
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Eileen Murray (co-CEO) - considered the most powerful non-bank woman in Banking in 2007-2008. Joined Bridgewater in 2009 and became Co-CEO in 2011.
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David McCormick (co-CEO) - former US Military man (West Point), and worked for GW Bush and Treasure Dpt. Joined Bridgewater in 2009. Member of the Trilateral Commission, CFR, Aspen Strategy Group and the Defense Policy Board. Not sure when he was appointed Co-CEO.
Strange culture at the firm. Described as a “cult”.
Refs:
en.wikipedia.org/wiki/Ray_Dalio
en.wikipedia.org/wiki/Bridgewater_Associates
uk.businessinsider.com/fbi-director-james-comey-time-at-bridgewater-2016-7?op=1&r=US&IR=T
cnbc.com/amp/2018/02/15/hedge-fund-bridgewater-makes-22-bln-bet-against-european-firms.html
bloomberg.com/news/articles/2018-02-09/ray-dalio-bridgewater-quadruples-shorts-on-european-union-stocks
nytimes.com/2016/07/27/business/dealbook/bridgewater-associates-hedge-fund-culture-ray-dalio.html