The World's Largest Hedge Fund Had a Huge Quarter Betting Against the Euro

Ray Dalio’s dire view on Europe is paying off.

His Bridgewater Associates, the world’s largest hedge fund, climbed about 14 percent this year through March in one of its strategies, according to a person familiar with the matter. The year-to-date return was fueled by a bet against the euro, said the person, who asked not to be identified because the information is private.