Bridgewater's Secret Inner Circle, Not AI, Drove World's Largest Hedge Fund Despite Claims

Ray Dalio founded Bridgewater Associates, the world's largest hedge fund, but its investing approach was a mystery to outsiders like Bill Ackman.

Investigators like Jim Grant and Harry Markopolos dug into Bridgewater's operations but found no evidence of wrongdoing, just complexity.

In truth, a tiny Circle of Trust including Dalio made all of Bridgewater's investment decisions, not a rules-based "investment engine."

Dalio cultivated relationships with government officials globally to get insider information that could benefit trades.

Studies showed Dalio's trading ideas were no better than a coin flip, but he still had the final say on all investments.