Core Insights - Ray Dalio, founder of Bridgewater Associates, has sold his remaining shares and stepped down from the board, marking his retirement from the hedge fund he created [2][3] - Bridgewater recently repurchased Dalio's remaining ownership stakes, and the Brunei Investment Agency has acquired nearly 20% of the firm, becoming one of its largest shareholders [2] Group 1 - Ray Dalio has been a prominent figure in the investment world, founding Bridgewater at the age of 26 and leading it to become the largest hedge fund globally [2] - The transition of leadership at Bridgewater has been in the works since 2010, with Dalio gradually transferring daily management and majority ownership to others [3] - Dalio emphasized the importance of learning from failures to increase the probability of success, highlighting the need to adapt to change and risk in investment [3] Group 2 - The recent changes in ownership and leadership at Bridgewater signal a significant shift in the company's future direction, with new leadership now in place [3] - The acquisition by the Brunei Investment Agency indicates strong interest from sovereign wealth funds in Bridgewater's operations and potential [2]

Core Insights - Ray Dalio, founder of Bridgewater Associates, has sold his remaining shares in the firm and exited the board, marking his complete departure from the hedge fund he established [2][3][4] - Bridgewater has repurchased Dalio's shares, and the Brunei Investment Agency has acquired nearly 20% of the firm, becoming one of its largest shareholders [3][4] - The transition of leadership at Bridgewater has been a long process, beginning in 2010, with Dalio gradually relinquishing control over the years [5][6][7] Company Transition - The succession plan for Bridgewater began in 2010, with multiple individuals serving as CEO, and Dalio gradually transferring daily management and majority ownership [5][6] - By December 2021, Bridgewater established an operational board to oversee daily operations, leading to the appointment of Nir Bar Dea and Mark Bertolini as co-CEOs in early 2022 [6][7] - Dalio's complete exit signifies the successful culmination of the ownership transition, as stated in a letter to investors [7] Investment Performance - Bridgewater has achieved significant success over the years, notably predicting the 2008 financial crisis and generating high returns during various market downturns [10] - By 2022, Bridgewater managed over $150 billion in assets, solidifying its position as a leading hedge fund [10] Relationship with China - Dalio has had a longstanding relationship with China, beginning in 1984, and Bridgewater has significantly invested in the Chinese market over the years [11][12] - In recent developments, Bridgewater has increased its holdings in Alibaba and other Chinese companies, reflecting a strategic focus on Chinese assets [11][12] Leadership Philosophy - Dalio emphasizes the importance of culture and talent selection in achieving success, advocating for a culture of transparency and learning from mistakes [14][15] - His principle of "pain + reflection = progress" has been a guiding philosophy throughout his career, highlighting the value of learning from failures [15][16]

他 挥 一 挥 衣 袖 。 投 资 界 获 悉 ， 桥 水 基 金 创 始 人 瑞 · 达 利 欧 （ Ra y Da li o ） 出 售 了 其 在 桥 水 联 合 基 金 （Bri dgewa t e r Ass o c i a t e s）的最后剩余股份并退出了董事会。至此，今年7 5岁的达利欧 离开了一手创建的桥水基金。 在投资圈，瑞·达利欧无人不晓——12岁就开始投资股票，26岁创办桥水基金，此后半生 带领桥水成为全球最大的对冲基金。犹记得2 02 2年，达利欧与红杉中国创始及执行合伙 人沈南鹏进行一场精彩对话，当中他分享的人生信条——"痛苦+反思=进步"，至今影响 了无数人。 "过去5 0年来，我一直创立并发展桥水基金，很多人问我，现在离开它有何感想？我对此 感到非常激动。因为我喜欢看到桥水基金没有我也能活得好好的——甚至比有我在的时候 还要好。"达利欧8月1日在回顾桥水50周年的声明中感慨。 达利欧，告别桥水基金 痛 苦 + 反 思 = 进 步 。 作者 I 周佳丽 报道 I 投资界PEdaily 在 一 封 桥 水 基 金 致 投 资 者 的 信 函 中 ， 桥 水 首 席 执 行 官 Ni ...