Rob Copeland: Ray Dalio and Bridgewater | Rational Reminder 292

Published 2024-02-15
In this episode, we welcome Rob Copeland, author of the recently released book The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend. Rob, a finance reporter for The New York Times, provides a gripping account of the rise and unravelling of Ray Dalio and Bridgewater Associates. Bridgewater Associates, one of the prominent hedge funds on the planet, is synonymous with the legendary investor Ray Dalio. In our conversation, we delve into the intricacies of the company's investment portfolio, shedding light on the details that contribute to its success, and dissect Ray's supposedly revolutionary model of economic cycles. Discover the unconventional principles that shape Bridgewater's culture, from believability to radical transparency, and get a sneak peek into the bizarre Dot Collector app that fuels the company's operations. Gain insights into employee experiences at the company, the secret sauce to Ray’s success, the company’s track record in predicting market crashes, undisclosed aspects of Ray’s success story, and much more! Tune in now!

Timestamps:

0:00:00 Intro
0:07:47 How much of the Bridgewater organization is dedicated to investment management
0:10:36 How Dalio’s model of economic cycles affects Bridgewater’s investment approach
0:14:17 How successful Dalio has been at predicting market crashes
0:16:54 The role have actual investment results played in Bridgewater’s success
0:18:45 Dalio’s Principles
0:23:05 How important the Principles are to Bridgewater’s success
0:38:43 What the dot collector app at Bridgewater does
0:32:18 Based on discussions with current and former employees, Rob describes the experience of working at Bridgewater
0:35:56 The actions Dalio has taken to create his public-facing image
0:42:35 How Dalio explains his own success
0:44:28 What the response to the book from readers has been
0:46:32 What explains Bridgewater's success
0:52:06 What main message Rob hopes people take away from reading his book

Links From Today’s Episode:

Rob Copeland on LinkedIn — www.linkedin.com/in/real-rob-copeland/
Rob Copeland on X — twitter.com/realrobcopeland
The New York Times — www.nytimes.com/
The Fund — static.macmillan.com/static/smp/the-fund/
Bridgewater Associates — www.bridgewater.com/
Principles — www.amazon.com/Principles-Life-Work-Ray-Dalio/dp/1…
Doom: The Politics of Catastrophe — www.amazon.com/Doom-Politics-Catastrophe-Niall-Fer…
The Dot Collector — www.principles.com/principles/3290232e-6bca-4585-a…
Rational Reminder on iTunes — itunes.apple.com/ca/podcast/the-rational-reminder-….
Rational Reminder Website — rationalreminder.ca/
Rational Reminder on Instagram — www.instagram.com/rationalreminder/
Rational Reminder on X — twitter.com/RationalRemind
Rational Reminder on YouTube — youtube.com/channel/
Rational Reminder Email — [email protected]
Benjamin Felix — www.pwlcapital.com/author/benjamin-felix/
Benjamin on X — twitter.com/benjaminwfelix
Benjamin on LinkedIn — www.linkedin.com/in/benjaminwfelix/
Cameron Passmore — www.pwlcapital.com/profile/cameron-passmore/
Cameron on X — twitter.com/CameronPassmore
Cameron on LinkedIn — www.linkedin.com/in/cameronpassmore/

All Comments (21)
  • Loved the book, great interview. A plugged microphone would’ve been really appreciated for Mr Copeland as it is very hard to focus and follow the interesting conversation for 50min with the distorted voice. Thank you for the interview.
  • @ihatelhp
    Thank you for doing and releasing the interview. This is literally the Rational Reminder.
  • @stevenbrady440
    I've been watching Ray Dalio's YouTube videos for the last three months. I'm not sure how long they've been available, but I've noticed an increase in their frequency recently. For some reason the YouTube algorithm thought I needed see more of them. This interview was extraordinary, and I'm eager to start reading the book. The culture ray Dalio has cultivated seems almost cult-like, which is fascinating. It would be intriguing to obtain an audited report of the fund's returns, to get a clearer idea beyond the general notions of it having made significant profits before and now earning less. I'm also curious about the costs involved and what the returns were after all those costs. This detail might already be in the book. Additionally, I completely agree with the sentiments expressed in the interview regarding the exceptional complexity of life. After watching the Dalio videos, I couldn't help but be astounded by the hubris of the claims being made. Kudos to everyone involved. It's hard and sometimes dangerous to point out that an emperor has no clothes. At least on certain subjects.
  • I really enjoy this episode and respect Rob Copeland writing this book. This episode taught me lots of life lessons.
  • @jasonmaguire7552
    Fascinating interview. The contrast between someone like dalio and someone like warren buffet is astounding. Buffet always downplays his abilities and doesnt try and make himself into an enlightened guru, and he says most people should just buy a vanguard index fund.
  • @70qq
    good video , appreciate it...but your guest's audio was trash , but im guessing thats his mic.....or lack of
  • @jaythefox
    Would be hilarious if you guys bring Ray Dalio on a future show and grill him! 😂
  • @ronus9993
    This was an excellent topic for you to discuss in your podcast. Thanks for all the work you did making this video.
  • @geramer
    I have seen Rob's interview with Patrick Boyle so this was not new to me. But right after this video, saw a dalio interview where he was saying Rob was rejected at Bridgewater job interview. If that is true a disclaimer would have been transparent. I do hate workplace nonsense, where top dog talks about latest trendy words like blockchain or AI and force employees to waste time in pointless training outside their primary skill.
  • @ReesesPieces81
    I've been calling out Dalio as a crook for many years and yet I get downvoted every time. I'm glad to see someone wrote a book this topic, maybe it will help make people see clearly.
  • @justinbeghly1435
    You guys are saying exactly what I’ve been thinking about RD. For me it’s the bold hubris of his predictions that raised the red flag for me. But, how do I rectify his success, and the fact I know he’s much smarter than me.
  • @WillFast140
    I think there’s this “great man” mythos that so many people want to subscribe to, because it’s far more inspiring to see a single individual as a hero than to acknowledge that virtually every “great man” only got to where they did on the backs of countless unnamed supporters and employees. We want to see heroes so we can have hope that one day we might get to be heroes. But although the greatest tech, finance, or sociological ideas of all time may have come from singular visionary minds, they were developed, refined, and put into practice by many, many people.
  • @rajibear77
    Can someone tell actually what Bridgewaters annual returns have been . I can’t see this information anywhere?
  • Even though Ray Dalio has massaged the Bridgewater story, how has the All Weather Portfolio model performed? Has anyone been using it?
  • @BaronGitanoCafe
    This certainly put some things into perspective. I wasn't expecting it.
  • @CarnifaxMachine
    Great episode but the guest's audio quality was a little sketchy. Blows my mind that in the year 2024 people don't have a headset with a good mic, and actually use something like lap top audio or air pods...
  • Fantastic episode. I read Principles last year. Didn't realize I was drinking the Kool aid!
  • @mf5654
    Can't wait to see the film, preferably directed by P.T. Anderson.