Born in Long Island in 1949, Ray Dalio founded Bridgewater Associates at the age of 26 in 1975. After being a bad student, by his own admission, he then developed an interest in the stock market. This fueled his educational pursuits. He then moved on to Long Island University and then to Harvard Business School.
Known for the Ray Dalio Principles, he’s considered a revolutionary investor on Wall Street. The Bridgewater Company is known for not only its unbelievably tough interview process and uniquely different methods of investing, but also for its stewardship of a fund with some 125 billion dollars under its management.
What has become a major concern for Dalio in recent years has been his almost maniacal obsession with passing on the knowledge he has acquired over some 50 years of investing in markets around the world. Not only within the realm of finance but also in the more general sphere of life-lessons. His goal not only appears to be to help people on the most personal level, but to find ways to, in his words, ‘reform capitalism’.
Without question, some may argue that the economic machine that is the American economy has expanded in the manner it has due to a rigid form of unbridled capitalism. Dalio actually doesn't dispute this. As a matter of fact it appears that his argument centres on an advocacy for something in between. He notes in a recent piece: "I think that most capitalists don’t know how to divide the economic pie well and most socialists don’t know how to grow it well..." He sees that the underlying concept of capitalism is without question the best system that there is, but he points out how imperative it is to address the starkly obvious issues within American society. From poor education, to even the socio-cultural issues of single parent households.
Fellow billionaire-philanthropists like Warren Buffett and Bill Gates have pointed out similar issues as it concerns capitalism's ‘rough edges’ so to speak. However they’ve been undercut by many loud voices in the public sphere, most having a political agenda. This hasn’t deterred Dalio however, who has committed himself to leaving an indelible in the public philanthropic sphere. He's been dubbed the Steve Jobs of finance.
Mikhail E.D. Byng was born in Trinidad. He is the author of Off the Island and a graduate student at the University of Belgrade. He speaks Serbian and English.
Trinbagonian. Traveler. Believer in God. Believer in Creation. Life long Student. Sports enthusiast.