Our newest co-CIO shares her thoughts on the secular changes shaping economies and markets, how she’s assessing cyclical conditions around the world, and what these dynamics mean for investors.

Odds favor a third stage of this tightening cycle likely to be marked either by an economic downturn or failure to meet the inflation target, prompting more tightening. Either would be bad for most portfolios.

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.

Even with the tailwind of falling energy prices, Europe’s inflation problem looks persistent, which is bad news for European assets.

The dominant driver of markets last year was the historically large and rapid rise in interest rates. This year, the major story is likely to be the impact of higher rates as the tightening flows through to economic conditions.

Bridgewater’s Co-CIO Karen Karniol-Tambour describes why today’s environment is so different from what we’ve seen in recent decades and how investors can prepare their portfolios.

Diversity, Equity, and Inclusion is a top priority at Bridgewater. Learn more about the DEI work that is essential to living out our values and succeeding on our mission.

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.

Greg Jensen and Bob Prince describe how they think the tightening cycle is likely to evolve, what it means for the economy and markets, and their areas of agreement and disagreement.

Many of the key markers of an inflation-driven bear market bottom are still missing today — little real economic weakening, few signs the central bank is ready to move to easing, and, as of yet, not much repricing of equities beyond the direct drag from rising interest rates.

Strong growth and a self-reinforcing, high level of inflation spurred the sharpest tightening in 60 years. To date, this tightening has led to weaker asset markets, but has had far less impact on economies. As Co-CIO Bob Prince illustrates, the next stage of the tightening cycle is likely to be an economic slowdown as policymakers work to bring inflation back to target.

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.

Daniel Yergin, one of the world’s leading experts on energy, and Angela Stent, one of the world’s leading experts on Russia, discuss the current state of the Russia-Ukraine war, how the war is reshaping the global energy map, and Russia’s role in an increasingly bipolar world.

High inflation and an extremely tight labor market leave the Fed with little choice but to tighten until the economy and markets weaken, setting up as bad an environment for financial assets as we have seen.

Co-CIO Greg Jensen speaks at the SALT New York forum about the biggest risks he's seeing in markets, Bridgewater's systematic approach to investing, and the big picture dynamics impacting markets and economies today.

Equities are discounting higher interest rates but not the tightening’s impact on growth and earnings or the possibility that even more tightening will be needed to bring inflation down.

Co-CIO Greg Jensen joins “Bloomberg Markets” to discuss the Fed’s dilemma and its implications for the economy, assets, and portfolios. He also talks through the impact of quantitative tightening, and the challenges facing Chinese and European policy makers.

Co-CIO Bob Prince and Evercore ISI Chair Ed Hyman join Bloomberg’s “Wall Street Week” to discuss the big imbalances in the economy and what they mean for investors.

Europe’s energy supply shock is creating a painful stagflation, and policy makers face a difficult set of choices. Looking forward, structurally higher energy prices will be a long-term competitiveness challenge for Europe.

The economy is in transition, and the path forward depends on how central bankers play their hand. What we see as likely and what the markets are discounting are very different scenarios, signaling the strongest near-term probability of stagflation (too-high inflation and too-low growth) in 100 years. What are the impacts of stagflation on financial markets? Co-CIO Bob Prince shares Bridgewater’s analysis on what’s transpired and what’s yet to come.

Co-CIO Greg Jensen and members of Bridgewater’s research team examine the downward pressure on asset pricing, driven by the rapidly expanding liquidity hole and Fed tightening.

In an interview on “Bloomberg Markets,” Co-CIO Greg Jensen discusses the implications of rising interest rates, the growing liquidity hole, and how the Fed’s policies are impacting different financial assets.

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.

Greg joins Bloomberg’s "Odd Lots" podcast to discuss the impact of rising interest rates on the economy, why the Fed is increasingly facing a difficult choice between inflation and growth, and how to build a portfolio in today’s environment.

In a wide-ranging conversation with "The Money Maze Podcast," Co-CIO Karen Karniol-Tambour breaks down today’s challenging investing environment. Drawing on lessons from the past, she explores where investors can find inflation protection, China and the importance of geographic diversification, Bridgewater’s fundamental and systematic approach to sustainable investing, and much more.

The founders of Bridgewater and GMO discuss the big risks they’re watching, including inflationary pressures, political conflict, asset bubbles, and climate change — and what investors can do to protect themselves.

Co-CIO Bob Prince and Evercore ISI Chair Ed Hyman join Bloomberg’s Wall Street Week to discuss the current economic environment, recent market moves, and the challenges facing investors.

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.

Earnings are priced in to keep rising while inflation is priced in to fall. Co-CIO Greg Jensen and Bridgewater's research team explore why it rarely works out that way.

MP3 (coordinated monetary and fiscal policy) produced massive injections of money and credit into economies, leading to high nominal growth, leading to self-reinforcing inflation, leading to a tightening of monetary policy which is now just beginning. Stagflation is the big risk and the war in Ukraine has added to that. Co-CIOs Ray Dalio, Bob Prince, and Greg Jensen share their perspective and outlook on economies and markets today.

As a 13-year Bridgewater veteran who leads our fixed income research team, Alex is recognized among 10 distinguished up-and-comers in the industry.

As a 16-year veteran of the firm, Co-Chief Investment Officer Karen Karniol-Tambour is recognized alongside an inspiring group of trailblazers in the finance world for the third year in a row.

Co-CIO Greg Jensen shares how he’s processing the war in Ukraine as an investor, the implications of deglobalization and the weaponization of finance, and the risk of stagflation.

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.

The new Rising Fellows Program will be a three-week virtual experience with a focus on connecting with students from backgrounds underrepresented in the industry.

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.

The past year brought about hardships and tragedy that few could have predicted. As 2020 unfolded, these challenges prompted individuals and teams at Bridgewater to step up in new ways to serve our clients, our community, and one another. Looking back on the year, the Bridgewater team produced a video that was viewed together on the final all-company call of 2020. With the permission of those involved, we invite audiences to watch a version of that video and hear our community reflect on a year that won’t be forgotten.

Nearly 300 of our employees have been at Bridgewater for a decade or longer and every year we honor all those who are reaching their 10-year milestone. We recently welcomed 53 new members into this special group in a virtual celebration, toasting all of them for their contributions to the firm and to our community. Watch highlights from the event and reflections from employees about what ten years has meant to them.

In the midst of a remote work environment, Bridgewater sought ways to allow team members to safely meet in person — to facilitate collaboration and benefit from the richness of face-to-face interactions. Our team responded by building a tented outdoor office space at our Westport, CT headquarters.