Latest news with #BridgewaterAssociates'
Business Insider
17-05-2025
- Business
- Business Insider
A Bridgewater exec is still trying to sell his private island. He cut its price — and threw in a mainland house with a dock.
Even private islands come with problems. One is the hassle of ferrying family members, guests, and goods back and forth from the mainland. The new $30 million listing for Rogers Island off the coast of Connecticut, owned by Bridgewater Associates' co-chief investment officer Greg Jensen, offers a solution. The island, which is $5 million cheaper than when it first listed last year, comes with a five-bedroom home on the mainland that has a private dock. "This gives you the perfect launching point to get to the island," said Leslie McElwreath, of Sotheby's, who now has the listing with her colleague Joseph Barbieri. Typically, Rogers and other nearby islands, all part of the Thimble Islands, are serviced by a public ferry that makes multiple stops throughout the day. Now, Rogers Islands' new owner can get to the island directly and seamlessly. Property records show Rogers Island was purchased by an LLC for $21.5 million in 2018; The Wall Street Journal later identified Jensen as the buyer. Jensen first listed the island in June of 2024 for $35 million. Rogers Island has multiple houses, a pool, a tennis court, and a putting green designed by famed golfer Jack Nicklaus. The New York area's financial elite have long had trophy homes in Connecticut. Bridgewater founder Ray Dalio and hedge fund boss Steve Cohen own palatial estates in Greenwich, which is a ferry ride and 60 miles from the Thimble Islands. Take a look around Rogers Island. Rogers Islands is part of the Thimble Islands, a smattering of 365 tiny islands off the coast of Branford, Connecticut, in the Long Island Sound. A 1.1-acre property on nearby Potato Island sold for over $4 million in 2020. In 2017, eight of the islands were listed altogether for $50 million, the New Haven Independent reported. The main house on Rogers Island was built in 1902. The sprawling mansion totals 8,746 square feet. Jensen renovated the main house in 2024, adding Calacatta marble countertops, luxury kitchen appliances, and a new wet bar. The main house has 10 bedrooms. Rogers Island also has a four-bedroom guesthouse, an artist's studio, a tennis court, and a pool. The artist's studio has its own outdoor shower. The pergola beside the pool is intended for seaside dining. Many of the island's 7.7 acres are meticulously landscaped. There are three private beaches on the island. The putting green was designed by famous golfer Jack Nicklaus. The mainland house last sold for $4.3 million on its own, according to McElwreath, the listing agent. The mainland home with a dock allows for easy boat parking and direct access to Rogers Island. The house, which last traded hands for $4.3 million, is now a deal-sweetener of sorts for the $30 million private island.
Yahoo
25-04-2025
- Business
- Yahoo
Bridgewater chiefs warn US assets are in danger — as founder Ray Dalio says the trade imbalance with China must end
Bridgewater's investing chiefs say a changing world is threatening markets and portfolios. The hedge fund trio sees "exceptional risks" to US assets and a rising chance of recession. Founder Ray Dalio said an "unsustainable imbalance" in the US-China relationship must be resolved. The world's biggest hedge fund has sounded the alarm on a seismic global shift, warning investors they're dangerously exposed and must adapt to the new reality. Bridgewater Associates' three co-chief investors — Bob Prince, Greg Jensen, and Karen Karniol-Tambour — issued the dramatic caution in their latest letter to clients and included an excerpt in a company newsletter this week. The trio said the transition to a "new macroeconomic and geopolitical paradigm" is roiling markets, reshaping capital flows, and threatening the status quo. The world is moving from the post-war era of globalization and free trade to one of "modern mercantilism," they said. The Trump administration's efforts to disrupt multinationals and upturn trade and security agreements as part of its "America First" agenda are accelerating the change, they continued. Prince, Jensen, and Karniol-Tambour predicted governments would increasingly intervene in their economies, using trade, foreign, and industrial policy to support companies and sectors that fit their strategic mission to "increase wealth, strength, and self-sufficiency." The shift poses an "urgent threat" to markets and investors' portfolios, they said. "Today's mix of global assets reflects the winners from the past paradigm, which were largely assets like US equities that benefited from rising growth, a proactive Fed, and US outperformance." The three investment gurus cautioned that many portfolios appear vulnerable to weaker growth, reduced central bank flexibility, stocks underperforming, and US assets trailing foreign rivals. "We expect a policy-induced slowdown, with rising probability of a recession," they said, suggesting the Federal Reserve won't be able to cut interest rates as freely as some other central banks given the risk of resurgent inflation. They also flagged that the stock market is still pricing in strong earnings for companies even though they're "under threat." "We see exceptional risks to US assets, which are dependent on foreign inflows," they said, nodding to the vast amount of overseas money invested in American stocks and bonds. Bridgewater's bosses pointed to AI as another driver of global change, but they said it's "too soon to say who the winners will be and if they will hold on to their winnings." They drew a parallel to the early stages of the dot-com boom. While the early promises of the internet were eventually realized, US stocks underperformed Treasurys, gold, and emerging market equities in the 15 years after 1998, they said. They added that most of the dominant tech stocks of that period trailed the broader market, too. Ray Dalio, Bridgewater's billionaire founder and the official mentor to its three investment heads, has been heralding a change in the world order for some time. In a LinkedIn post on Thursday, Dalio said he dreamed of US-China trade negotiations leading to a "beautiful rebalancing." He diagnosed the problem as the US being overdependent on cheap manufactured goods from countries including China, which had eroded its manufacturing base and hurt a large segment of its population. China, meanwhile, had become too reliant on selling to and investing in the US and other countries. "This is an unsustainable imbalance that one way or another — i.e., in a coordinated, well-managed way or in a crash — must come to an end," Dalio said. The US needed to cut the deficit, boost manufacturing, reduce consumption, and lower its debt burden to rectify the imbalance — and he hoped it could work with China to do so. Read the original article on Business Insider Sign in to access your portfolio
Yahoo
17-03-2025
- Business
- Yahoo
Bridgewater's Main Macro Fund Surges 11.3% Amid Market Swings
(Bloomberg) -- Bridgewater Associates' flagship hedge fund jumped 11.3% this year through last week, benefiting from market swings set off by President Donald Trump's trade wars. ICE Eyes Massive California Tent Facility Amid Space Constraints How Britain's Most Bike-Friendly New Town Got Built The Dark Prophet of Car-Clogged Cities Washington, DC, Region Braces for 'Devastating' Cuts from Congress Saving the Signature Sound of Washington, DC The gains in Bridgewater's Pure Alpha II, which invests in stocks, bonds, currencies and commodities, accelerated during the first half of March, according to a person familiar with its performance. The S&P 500 fell 5.3% in that span, while all of the G7 currencies gained against the dollar. The firm profited while some other macro peers lost money. Brevan Howard Asset Management's $11.7 billion Master Fund slid 1% in the first week of March, extending the year's decline to 5.4%. DE Shaw & Co.'s Oculus fund, which mostly makes macro wagers, fell 4.4% through March 7. Last year, Bridgewater's main macro fund returned 11.3% — its best performance since 2018. Even so, that gain trailed its biggest macro competitors. Nir Bar Dea, who was named Bridgewater's sole chief executive officer in 2023, has taken steps meant to increase the firm's returns, including capping the size of its flagship funds and focusing more on artificial intelligence. The Real Reason Trump Is Pushing 'Buy American' Nvidia Looks Past DeepSeek and Tariffs for AI's Next Chapter How America Got Hooked on H Mart Snap CEO Evan Spiegel Bets Meta Can't Copy High-Tech Glasses How Trump's 'No Tax on Tips' Could Backfire for the Working Class ©2025 Bloomberg L.P. Sign in to access your portfolio
Arab News
13-02-2025
- Business
- Arab News
International debt is creating instability, global investor says
DUBAI: The debt problem is not one that only the US is facing — it is a world debt problem that China, Europe and many countries are confronting, according to Ray Dalio, founder of Bridgewater Associates. During a session conducted by TV host, Tucker Carlson, at the World Governments Summit on Wednesday, Dalio said: 'If you have that debt problem, you exacerbate the great conflict that's going to happen. You create political instability. It's a geopolitical problem. 'Climate is costly, roughly $8 trillion a year on climate, so it's a financial thing, and now the question is this new technology and how are we going to handle that and how do we make the most to raise productivity or what is it used for. Is it used for conflict?' Carlson said: 'You have run one of the biggest hedge funds in the world for a long time, and in order to do that you have had to think about the rest of the world in a systematic way … in doing that, you have developed this framework for understanding what's happening now and what's going to happen.' Carlson then asked Dalio to discuss the five trends that he had looked at to consider what was going to happen next. As a global macro investor for 50 years, the Bridgewater Associates' founder said that he discovered that he needed to study history. By doing so, he observed five major forces that operate in a big cycle. The first is that 'we have a big debt issue globally, that is very important… that is a force, a financial force.' The second, he said, is the internal order and disorder force that goes in a cycle in which there 'is greater and greater gaps and conflicts between the left and the right and populism that forces a great conflict like a civil war. 'I believe we are in a form of a civil war now, that's going on within countries,' he said. The third force is the great world power conflict that occurs 'when a great power runs the world order and then there is a rising power that challenges that, you have a great power conflict: US-China.' The fourth force is that throughout history, acts of nature — 'droughts, floods and pandemics — have killed more people than wars and have toppled world orders more than anything else.' The fifth big force is 'man's inventiveness, particularly of technology.' Dalio said: 'Everything that we talk about, everything that we are looking at, falls under one of those and they move in a largely cyclical way and that is the framework that we are now living out.' Giving his sense of the scale of global debt, Dalio said that 'it's now unprecedented in all of history' and went on to explain how it worked, saying 'there is a supply-demand situation. 'The way the debt cycle works is, think of credit, and our credit system as being like a circulatory system, that credit brings buying power, brings nutrients to all the system … but that credit that we buy things with, that we buy financial assets, goods and services with, creates debt. 'That debt accumulates like plaque in a system that begins to have a problem because it starts to squeeze out spending, for example the US budget, about a trillion dollars a year now goes to pay interest rates. Over the next year we are going to have over $9 trillion debt that we have to pay back and roll forward hopefully.' So there is a supply demand issue with this debt, 'one man's debts are another man's assets.' Dalio added: 'if those assets don't provide an adequate return, or they feel there is risk in those assets, there is not enough demand for that debt, there is a problem … that problem is that interest rates then start to rise, and those holders of the debt begin to realize there is a debt problem, and worse, on the supply and demand, that they have to sell debt.' Dalio said that the US would run a deficit of about 7.5 percent of GDP 'if the Trump tax cuts are continued,' which he expected. 'That deficit needs to be cut to 3 percent of GDP… all policymakers and the president should have a pledge to get it to 3 percent of GDP, because otherwise we are likely to have a problem,' he said.
Yahoo
06-02-2025
- Business
- Yahoo
Bridgewater's flagship fund rose 8.2% in January, source says
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) - Bridgewater Associates' flagship fund Pure Alpha posted a gain of 8.2% in January, in a period when investors navigated a sell-off in AI-related stocks and uncertainties around the incoming U.S. administration, a source familiar with the matter said. It was not immediately clear what drove the hedge fund performance in January. Last year, the macro flagship fund, known as Pure Alpha 18% volatility, was up 11.3%. Tech stocks plunged on Jan. 28 after Chinese AI startup DeepSeek revealed that its model was on a par or better than industry-leading rivals in the U.S. at a fraction of the cost, sending shares in Nvidia down roughly 17%. Worldwide, stocks also whipsawed amid concerns after U.S. President Donald Trump said he would implement tariffs on Canada, Mexico and China. On Monday, Trump suspended his threat of tariffs on Mexico and Canada, but maintained tariffs on China. Still, despite all choppiness in January, all main U.S. stock indexes ended the month in the positive territory. The S&P 500 rose 2.7%, while the Nasdaq Composite and the Dow Jones Industrial Average gained 1.64% and 4.7%. Speaking at a conference in Miami last week, co-chief investment officer Karen Karniol-Tambour said investors should diversify their equity allocations to markets outside the U.S. and also add more bonds to portfolios as a way to protect against a growth downturn. "The bar for the U.S. (equities) to keep being the outperformer has just really risen relative to what it was because of this period of mass outperformance," she said. Sign in to access your portfolio
