Bridgewater Associates, founded in 1975 by Ray Dalio, is a leading American investment management firm specializing in institutional portfolio management for sophisticated global clients such as pension funds, endowments, foreign governments, and central banks[2][3]. Headquartered in Westport, Connecticut since 1981, Bridgewater has grown to manage approximately $154 billion in assets, employing about 1,300 people[2][5]. Initially providing consulting services in global markets, Bridgewater evolved into a pioneering institutional investor, notably developing the risk parity investment strategy in 1996[2]. The firm manages 66 pooled investment vehicles, including 36 hedge funds, focusing on complex investment approaches accessible primarily to accredited institutional investors[1]. Its flagship research publication, The Bridgewater Daily Observations, offers clients real-time insights into market dynamics and economic trends[1][3]. Bridgewater has achieved notable financial performance, ranking as the fourth-most profitable hedge fund in history by absolute returns as of 2023[2]. Despite periods of underperformance against benchmarks like the S&P 500 (2012–2021), the firm rebounded with a 7.8% return in 2021 and a strong 32% gain in its Pure Alpha II fund during the volatile market of early 2022[2]. In 2022, Bridgewater launched the "Defense Alpha" strategy designed to shield investors during bear markets, accumulating $800 million in assets by 2023[2]. The firm embraces a culture of openness, transparency, and independent thinking, leveraging cutting-edge technology to apply universal investment principles across global markets[3]. Leadership recently transitioned with co-CEOs Nir Bar Dea and Mark Bertolini taking the helm in 2022 after David McCormick’s departure[2][3]. Bridgewater’s distinctive blend of rigorous research, innovative risk management, and institutional focus positions it as a pioneer in asset management, consistently shaping how institutional investors navigate complex financia