Layoffs, lawsuits, and poor performance: Inside the year from hell for billionaire Ray Dalio's Bridgewater
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He wrote in March that the firm used a similar playbook to 2008, with zero percent interest rates triggering a slew of defensive moves. The Fed has held rates near zero and millions remain out of work thanks to the pandemic, but the markets have been incredibly optimistic about the recovery of the economy. to get back in the black for the year.
The former Bridgewater analysts were embroiled in a years-long legal battle with Dalio and his team over trade secrets and more that ultimately resulted in the world's largest hedge fund losing. The arbitration decision spilled into public view after Minicone and Squire sued Bridgewater for $2 million in legal fees.
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