CEO Nir Bar Dea sent this email to Bridgewater’s employees on November 7, 2023.
All,
Today a book was released about Ray and Bridgewater. Honestly, I’m torn about if and what to write in this note. So much of this book is false and has so little to do with who we are. At the same time, because it says a lot of untrue things about us, it’s natural to want to understand and to respond. I think going point by point on it would be a big distraction and feed more of what the author wants — which is to use our platform and credibility to sell books. So rather than do that — let me reiterate two things.
The first, and most important, is who we are. For those of you who have spent decade(s) of your lives here, no words I can write will compare to what you already know. Bridgewater has given us something very few other experiences have. An audacious mission, undertaken for some of the most capable investors in the world. The joy and satisfaction of working alongside people who share common values, who are trustworthy not because they are perfect, but because they struggle openly to relentlessly improve. The ability to be ourselves — in a world that likes conformity and hiding mistakes — makes us stronger, not weaker. And we will keep being ourselves, through many different circumstances.
The second thing I want to reiterate is that I’m here, as is the rest of the leadership team. Even though this book is ridiculously inaccurate and as I said — we are not planning to respond point by point — if you decide to read this book and have questions — reach out to me or any member of the leadership team anytime. Many of you already do that with whatever’s on your mind, so I know you won’t hesitate. But if you are newer or worried it might waste time, don’t be. Part of our promise to everyone who works here is that you can make sense of things for yourselves, that we can work through anything as long as you raise it.
For those interested, attached you can also see the long-form version of our company statement.
Nir