Hedge Fund Calls New York Times Article a ‘Distortion’


Ray Dalio, the founder and chairman of Bridgewater Associates. CreditLucy Nicholson/Reuters

Bridgewater Associates, the world’s largest hedge fund, released a statement on Thursday taking issue with what it called “significant mischaracterizations” and a “distortion” of some of its business practices and culture that were described in an article in The New York Times.

 Ray Dalio, the founder and chairman of Bridgewater, said in a statement that the article “intentionally strung together a series of misleading ‘facts’” in order to “create the most sensationalistic story.”
The Times article reported on the culture at Bridgewater as detailed in a sexual harassment complaint and a National Labor Relations Board filing, as well as in interviews with seven former employees or people who have done work for the firm. The article described how the firm’s policy of recording meetings and surveillance had a chilling effect on employees bringing grievances or complaints, according to those people…
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