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Updated: June 15, 2022 / 2022 Wealthiest people in CT

Wealthiest People in CT: 1. Ray Dalio

Founder Bridgewater Associates, Westport
2022 Net Worth: $22 billion  
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Ray Dalio’s doing something right. The founder, chairman and co-chief investment officer of Bridgewater Associates — which has been described as the world’s largest hedge fund — reportedly has a personal net worth of about $22 billion, according to Forbes Magazine.

But 72-year-old Dalio, a Greenwich resident, admits that even he gets some things wrong.

Perhaps his biggest mistake “occurred in 1981–’82, when I became convinced that the U.S. economy was about to fall into a depression,” Dalio told Institutional Investor in a 2015 interview. “My research had led me to believe that, with the Federal Reserve’s tight money policy and lots of debt outstanding, there would be a global wave of debt defaults, and if the Fed tried to handle it by printing money, inflation would accelerate. Boy, was I wrong. What I’d considered improbable was exactly what happened: Fed Chairman Paul Volcker’s move to lower interest rates and make money and credit available helped jump-start a bull market in stocks … .”

But he was smart enough to walk away with an important lesson: to always fear “being wrong, no matter how confident I am that I’m right. As a result, I began seeking out the smartest people I could find who disagreed with me so that I could understand their reasoning.”

Almost 40 years later the prolific investor (he’s the author of The New York Times No. 1 bestseller “Principles, and Principles for Navigating Big Debt Crises”) is still at it.

Besides his investment and philanthropic work, Dalio says he’s currently working on his third book, which will outline his investment principles.

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