Ray Dalio gradually steps away from the management of Bridgewater

Ray Dalio, who is 66 years old, made of Bridgewater one of the most successful investment companies of all time, with more than $ 70 billion in profits for its customers since its founding in 1975.

Since hedge funds often tell clients that are in the middle of a painful transformation to change power by the founder Ray Dalio. He said that although it has no intention of leaving the company until he was physically incapable, but also decided to have rather a mentoring role. The process is planned to happen for 10 years, which will be finished by the end of 2020.

Confirmation for the transoformation, which is scheduled to be staggered, Bridgewater announced last week that they hired the former executive of Apple Inc. - Greg Jensen, who is one of the closest disciples of Mr. Dalio, as the new deputy director of the hedge fund. Greg Jensen is one of the closest disciples of Mr. Dalio.

To help prepare for the future, Dalio is spending much of his time in recent years, creating an internal library of case studies, known as "training and management principles." Employees were required to watch daily 15-minute videos, which often show situations that have been testing principles of Bridgewater during disagreements and failures.

"Bridgewater is an evolution machine," said Robin Levin, a former executive in Bridgewater. "We constantly make changes, which can be painful and chaotic. But it directs the ship in calm and quiet waters".
Some employees describe Bridgewater asoasis where they are away from traditional corporate hierarchies and are challenged to be the best.

Dalio said in a statement: "By taking problems on the surface and deal with them honestly we achieve better results and more stable friendship between people who love to be that way.". "All employees see what would remain hidden in most companies, including all the hard stuff, and by leading an open debate, they know that there is no spin. In Bridgewater we have a real meritocracy. This is great for people who love it and difficult for everyone else, "says the founder of the hedge fund.

Dalio's philosophy clearly has paid out in time, as the hedge fund has annual revenue of 13% (after deduction of fees) since its founding in 1991.