Ray Dalio Is More Famous Than Ever and Delivering Subpar Returns
- Billionaire’s recent book has sold more than 2 million copies
- His macro fund is down about 2% this year, trails some rivals
This article is for subscribers only.
The biggest hedge fund in the macro game, a $40 billion beast, is looking a lot like an also-ran.
It’s lagged behind peers over the past eight years, and a roughly 2% decline in 2019 is shaping up to be one of its worst years on record, according to people familiar with its performance. Yet the behemoth, Pure Alpha II, is the flagship of none other than billionaire investor Ray Dalio.