Published on 22 May 2024 on Insider Monkey via Yahoo Finance

Billionaire Ray Dalio is Selling These Tech Stocks in 2024

When billionaire Ray Dalio left his empire Bridgewater Associates in 2022, the inflation storm and economic uncertainties were pummeling the financial markets. While the fund had started 2022 on a positive note, its returns came crashing down it the last quarter of the year. According to a Bloomberg report, The Pure Alpha fund of Bridgewater fell about 13% in Q4'2022 through November. Bridgewater’s Pure Alpha II fund also fell a whopping 20% in the two months through the end of November 2022. Over the past four years, Bridgewater's Pure Alpha fund declined by 4%. In 2023, the Pure Alpha fund fell 7.6%, while the hedge fund industry's average return in 2023 through November was 4.35%, with many top hedge funds in the league of Bridgewater (Ken Griffin's Citadel, for example) posting double-digit returns.

Billionaire Ray Dalio's Bridgewater 2024 Returns So Far

But what about Ray Dalio's Bridgewater returns in 2024? Ray Dalio gave reins of the fund to a younger management, who had plans to turn things around by cutting costs and restructuring. So far the strategy seems to be working. In April, Bloomberg reported that Bridgewater's flagship Pure Alpha fund has rebounded a whopping 16% this year.