Ray Dalio is stepping down as co-CEO of Bridgewater Associates
Ray Dalio is an American billionaire investor, former hedge fund manager, and philanthropist. Bridgewater Associates is made up of three hedge funds: The flagship Pure Alpha fund, the All Weather fund, and the Pure Alpha Major Markets fund. According to an article by The New York Times, Ray Dalio is stepping down from his role as hedge fund manager of Bridgewater Associates after 47 years. Ray Dalio is being succeeded by co-CEOs of Bridgewater Associates Nir Bar Dea and Mark Bertolini and will continue to serve as the Chief Investment Officer of Bridgewater Associates.
According to the article, Bridgewater Associates’ flagship fund, Pure Alpha, is up 35% year to date and is outperforming all major market indices. Bridgewater Associates has been one of the most successful hedge funds in the world, with an average annual return of 13.9% since its inception in 1975.
Ray Dalio is an accomplished investor and his company Bridgewater Associates is one of the most successful hedge funds in the world. He is stepping down from his role as hedge fund manager of Bridgewater Associates and will be succeeded by co-CEOs Nir Bar Dea and Mark Bertolini. Ray Dalio will continue to serve as the Chief Investment Officer of Bridgewater Associates. Under his leadership, Bridgewater Associates has achieved an average annual return of 13.9%.
Bridgewater Associates’ Stock Portfolio
Technology is one of the few sectors that has outperformed the stock market this year, with the Nasdaq 100 up over 35%. Bridgewater Associates’ founder and co-chairman, Ray Dalio, is a big fan of technology stocks, and his firm’s $19.75 billion stock portfolio is chock-full of tech companies. In this article, we’ll take a look at three of Dalio’s top tech picks: Microsoft Corporation (NASDAQ:MSFT), Meta Platforms, Inc. (NASDAQ:GOOG).
Microsoft Corporation (NASDAQ:MSFT) is one of the world’s largest software companies, with a market cap of $1.6 trillion. The company’s flagship product is the Windows operating system, which is used by over 1 billion people worldwide. Microsoft also makes the popular Office suite of productivity software, as well as the Azure cloud computing platform. The company has been a big beneficiary of the COVID-19 pandemic, as its products are essential for many businesses and schools that have switched to remote work and online learning. Shares of Microsoft are up over 40% this year, and the stock is a top pick of Ray Dalio’s Bridgewater Associates.
Meta Platforms, Inc. (NASDAQ:FB) is the world’s largest social networking company, with a market cap of $681 billion. The company’s flagship product is the Facebook social networking platform, which has over 2 billion active users. Facebook also owns the popular Instagram and WhatsApp messaging apps, which have over 1 billion and 2 billion users, respectively. The company has been under fire in recent years for its data privacy practices, but that has not stopped its stock from soaring. Shares of Facebook are up over 50% this year, and the stock is one of Ray Dalio’s top picks.
Alphabet Inc. (NASDAQ:GOOG) is a multinational conglomerate with a market cap of $1.2 trillion. The company is best known for its Google search engine, which is the most popular search engine in the world. Google also owns the YouTube video sharing platform, the Android mobile operating system, and the Google Maps mapping service. Alphabet has been investing heavily in new businesses, such as self-driving cars and drone delivery, and its stock has been on a tear. Shares of Alphabet are up over 30% this year, and the stock is one of Ray Dalio’s top picks.
Source: Yahoo News
This article was created by Artificial Intelligence PRAI.co