The biggest drivers of market outcomes today are the limits policy makers face and how they choose to navigate them. Our CIOs describe this dynamic and how it creates opportunities for investors.

Karen joins the Goldman Sachs Exchanges: Great Investors podcast to discuss the US economy, what’s next for the Fed, how AI could impact productivity and equities, and reflections on her journey in the financial industry and her time at Bridgewater.

From October 9-10, 2024, Bridgewater Associates co-hosted the Economic Development Assembly in Abidjan, Côte d’Ivoire, in support of the World Bank’s 21st IDA replenishment, alongside partners Global Citizen and Harith General Partners.

Blake Cecil has been named to Business Insider’s 2024 Rising Stars of Wall Street list, recognized among leaders of tomorrow making notable contributions and accomplishments in the asset management industry.

In a moderated conversation, Rohit and Bob discuss how they each approach portfolio resilience at their respective organizations and the potential opportunities they see in markets today.

Some of the largest drivers of US equity outperformance cannot be counted upon going forward. A lot depends on the ability of US tech to deliver and AI to unleash productivity across sectors.

As part of the 30th anniversary of the relationship between Bridgewater and GIC, the entity that is responsible for managing Singapore’s international reserves, our two organizations have led a series of joint research projects to identify and assess the issues we think are most important for investors to grapple with in the years ahead. In this videocast, Head of Client Service and Editor of the BDO Jim Haskel discusses the takeaways of that work with Jeffrey Jaensubhakij, Group Chief Investment Officer of GIC; Liew Tzu Mi, Chief Investment Officer for Fixed Income & Multi Asset and Chair of the Sustainability Committee; and our own co-Chief Investment Officer Greg Jensen.

Co-CIO Greg Jensen explains that the greatest bubbles require a transformational technology and a ripe macro and monetary backdrop. We now have both—so he believes the AI bubble is ahead of us, not behind us.

Ajay Banga, President of the World Bank, sits down with Bridgewater CEO Nir Bar Dea to discuss Africa’s economic trajectory and how it creates challenges and opportunities for global investors.

The demographic boom in the working-age population in sub-Saharan Africa is one of the long-term forces that can shape the world in the coming decades. In this research, we explore this dynamic in depth, its implications for the region’s role in the global economy, and how decisions made by policy makers, investors, and the private sector can forge alternative paths.

Our CIOs discuss why the expansion is likely to stay durable even as it slows, why a sustained expansion with central bank easing isn’t as good for assets as it might seem, and the opportunities they see.

Former Treasury Secretaries Larry Summers and Bob Rubin join our CIOs and senior investors to discuss why growth has remained so resilient, why inflation has quickly fallen without a recession, the outlook for the dollar, and more.

Co-CIO Greg Jensen joins Bloomberg’s “Open Interest” to discuss the opportunities created by the global tightening cycle, the risks related to the US election, and whether there’s an AI bubble.

Co-CIO Karen Karniol-Tambour recently joins Alex Shahidi on the latest episode of his podcast, The Insightful Investor, to share insights into her professional journey, Bridgewater's current market outlook, and how to think about building great portfolios in this environment.

Co-CIO Karen Karniol-Tambour describes how we’re in the midst of a transition from an exceptionally low cost of capital to more moderate levels. But bond yields still need to rise to set a price of capital that is sustainable for the world we’re in, compensating for structurally higher fiscal stimulation and inherently inflationary spending on things like AI investments, remilitarization, rebuilding supply chains to reduce reliance on China, the energy transition, and energy security.

The vast majority of publicly traded companies have announced plans to reduce carbon emissions, but many commitments are not sufficiently ambitious or credible—particularly in high-emitting sectors. As a result, investors may be unknowingly exposed to transition risk without a rigorous process to assess these plans.

Throughout history, certain companies have dominated the equity market, but co-CIO Bob Prince explores how the process of creative destruction makes staying on top for long periods of time very difficult.

At the Fiduciary Investors Symposium, co-CIO Karen Karniol-Tambour describes what portfolio resilience is, why it matters, and the incremental decisions investors can make to build portfolios that are resilient to a broader range of conditions going forward. See important disclosures and other information here.

While AI investment isn’t yet a major driver of economic growth, co-CIO Greg Jensen says it looks poised to rise rapidly from here—with the potential to shape the business cycle well before AI is in widespread productive use.

Swings in corporate spending are a material reinforcing mechanism to growth on both the upside and the downside. Co-CIO Bob Prince explains that as conditions have strengthened and profits have improved, businesses are now increasing plans to spend, particularly across sectors with secular tailwinds.

At the Milken Institute’s 2024 Global Conference, co-CIO Karen Karniol-Tambour shares her thoughts on the macro outlook, touching on where to find geographic diversification, how we’re approaching geopolitical risk, the impact of AI on inflation, and more.

In an interview with CNBC, co-CIO Karen Karniol-Tambour discusses current market conditions, whether the Fed will start easing this year, and opportunities this presents for investors.

Bridgewater announces a new strategic partnership with Global Citizen that will support the World Bank’s International Development Association (IDA) fund replenishment—IDA21. By combining Bridgewater’s research with Global Citizen’s advocacy, this partnership will encourage IDA donor nations to make financial commitments ahead of an economic summit in Côte d’Ivoire from October 9-10.

As most major economies are seeing their working age populations stagnate or shrink, sub-Saharan Africa’s is growing rapidly and projected to be larger than China’s in about a decade. If the region can also increase its productivity growth, it will begin to emerge out of poverty and gradually become relevant to global investors.

Bridgewater co-CIO Karen Karniol-Tambour joined a panel conversation at Semafor’s first World Economy Summit to discuss the evolving macroeconomic environment, fiscal policy, the bond market, demand for U.S. assets, and the strength of the U.S. dollar.

With inflation stalled above target and growth remaining strong, co-CIO Bob Prince tells the Financial Times that the Fed is “off track” from cutting rates—the question is how far.

In an appearance at the 2024 Sohn Investment Conference, co-CIO Karen Karniol-Tambour shares her perspective on key cause-effect relationships, including what will drive stock/bond correlations going forward, why gold and the dollar have rallied together, and more.

In partnership with Metaculus, Bridgewater sponsored an exciting competition where participants showcased their forecasting abilities, explored potential early career opportunities at Bridgewater, and qualified for $25k in prize money. See final rankings from the contest here.

Dr. Sian Leah Beilock, President of Dartmouth College and an independent director on Bridgewater’s Operating Board of Directors, has been recognized by Diverse: Issues In Higher Education as one of the “40 Women Making a Difference in the World of Academe.” Dr. Beilock is the first woman to serve as President of Dartmouth College and is an expert in the dynamics that enable more women to pursue and succeed in STEM fields.

Co-Chief Investment Officer Karen Karniol-Tambour has been recognized among 100 women at the highest levels of leadership in US Finance.

Maximizing the benefits of geographic diversification can be highly beneficial for portfolios. But doing so can be difficult because many economies are closely linked to US conditions, making their markets highly correlated to US assets investors already own. Co-CIO Karen Karniol-Tambour explores some of the markets she sees as the most diversifying.

Bridgewater alum, author, and investor Paul Podolsky shares how he’s assessing Russia and its threat to the global order following the death of Alexei Navalny, what it takes for economies to succeed in the modern world, and the implications for investors.

Co-CIO Karen Karniol-Tambour explains that in a tight economy with high levels of fiscal spending and strong balance sheets, there is limited room for a pickup in private sector borrowing without reigniting inflationary pressures.

Co-CIO Greg Jensen joins a panel of industry leaders at the World Economic Forum in Davos, Switzerland, to discuss their views on current conditions and the risks that lie ahead for financial markets over the next 12 months.

The secular investment landscape looks more like decades past than the last 20 years, while dynamics like AI and climate change will likely shape the world in unprecedented ways. Co-CIO Karen Karniol-Tambour describes this new era of investing.

Co-CIO Greg Jensen and Bridgewater’s Chief Scientist of AIA Labs and Head of Machine Learning, Jasjeet Sekhon, are named among the top "AI experts to know at some of Wall Street’s biggest hedge funds” by Business Insider. They are recognized for their distinct contributions in AI at Bridgewater and in recognition of their leading efforts for Wall Street’s AI ambitions.

What happens when cognitive tasks can be done at zero marginal costs? Co-CIO Greg Jensen explores some of the potential impacts that advancements of AI/ML technology could have on companies and the economy, including an extreme scenario that could potentially produce “explosive growth.”

Bridgewater’s Head of AI & Machine Learning Investment Strategy is recognized alongside other rising stars in the industry.

The forces that have cushioned the impact of the tightening so far are unsustainable. As past supports fade and rates stay high, we expect balance sheets to deteriorate and growth to gradually grind down. Co-CIO Greg Jensen explains how we expect this dynamic to be the dominant driver of economies and markets over the next 12-18 months.

Read our response to a recent book that paints a distorted and inaccurate picture of our firm and community.

Co-CIO Karen Karniol-Tambour has been named to “The MarketWatch 50” 2023 list, where she is recognized for her actions, contributions, and insights as one of the most influential figures in markets today.

Helene Glotzer will join Bridgewater’s Operating Board of Directors as a Partner Director and Jason Warner will join as an Outside Director. Helene has been part of the Bridgewater community since 2007, and Jason brings of 20 years of experience in software development, enterprise technology, executive leadership, and innovative thinking as a technologist, CTO, and business leader in the software industry.

Greg joined Bridgewater in 1996 and has long invested in the firm’s AI/ML capabilities. He joins Insider’s AI 100 list alongside Bridgewater alumnus Dave Ferrucci and other experts from the world of finance, who will likely impact the future of artificial intelligence and how it may shape our lives.

The impacts of AI on the economy will depend both on how the technology evolves and how quickly and effectively it is implemented. Co-CIO Karen Karniol-Tambour shares how we are interpreting the growing literature on the topic and tracking the process in real time.

Bridgewater co-CIO Karen Karniol-Tambour joins “Bloomberg Wealth with David Rubenstein” for a wide-ranging discussion on Bridgewater’s current leadership and culture, her career journey, and our outlook on markets and economies.

Margo Cook will join Mike McGavick as co-Chair of Bridgewater’s Operating Board of Directors. Margo has been part of the Bridgewater community since 2021, currently serving as an Outside Director on our Operating Board, and brings more than 30 years of executive leadership, operating experience, and innovative thinking as an investor.

Karen joins co-CIOs Bob Prince and Greg Jensen as a full partner in leading Bridgewater’s Investment Committee and holding ultimate responsibility for our investment strategy and outcomes.

The publicly traded firms in a handful of emissions-intensive sectors are responsible for about 60% of all global emissions. By allocating capital to climate solutions and carbon improvers in these sectors, investors can make progress toward their net zero goals, even if that leads to higher spot portfolio emissions than if they were to cut these emissions-intensive sectors altogether.

Bob shares his views with Milken Institute on today’s self-reinforcing inflation, what needs to happen to bring inflation down, and the likelihood of a coming recession. He also touches on the US relationship with China and the potential ramifications for the economy and capital flows going forward.

Nir describes the work required to complete a successful generational transition at Bridgewater and his vision for the firm's future across talent, culture, and business priorities.

Bridgewater celebrated the completed transfer of control from Ray Dalio to the next generation of the firm’s leadership.

Alongside other industry leaders, CEO Nir Bar Dea shares insights on what he believes will be the most important innovations over the next 30 years. Nir shared how enabling “open collaboration” is the key to solving humanity’s most difficult problems.

An article published by Institutional Investor credits recent success to a series of structural changes to Bridgewater’s management and investment processes.

In an interview with Jessica Pliska for Forbes, Co-CEO Nir Bar Dea discusses growing up in Israel, the potential for growth through failure and reflection, and the power of Bridgewater’s radical transparency.

Earlier this week, Ray Dalio, Bob Prince, Greg Jensen, and Co-CEOs Nir Bar Dea and Mark Bertolini signed the agreements providing for the transfer of control of Bridgewater from Ray to the Operating Board of Directors, successfully finalizing the terms of this transition.

Today Bridgewater announced that CEO David McCormick has stepped down after 12 years at the firm, including nearly five successful years as CEO. In succession, the Operating Board of Directors named two co-CEOs: current Deputy CEO Nir Bar Dea and current Co-Chair of the Operating Board Mark Bertolini.

The company’s Operating Board of Directors was announced in an email to employees.

Hear from some of our key leaders about the their life and work, as well as the culture and community that defines the Bridgewater experience.

Karen Karniol-Tambour and Carsten Stendevad to lead effort as Co-Chief Investment Officers for Sustainability.