Ray Dalio warns the stock market's cushion against rising bond yields is shrinking

Ray Dalio began his career with an early interest in finance, caddying at a golf course and investing his earnings in the stock market as a child. After graduating from Long Island University in 1971 and earning an MBA from Harvard Business School in 1973, he worked in commodities trading at firms like Dominick & Dominick LLC and Shearson Hayden Stone. In 1975, Dalio founded Bridgewater Associates from a two-bedroom apartment in New York City, initially offering advisory services and risk management before evolving into a hedge fund. The firm relocated to Westport, Connecticut, in 1981 as it expanded, becoming the world's largest hedge fund by 2005 with its 'Pure Alpha' strategy delivering consistent returns. Dalio's philosophy of radical transparency and truth-seeking drove Bridgewater's culture, enabling it to manage $150 billion for clients like pension funds and central banks. Dalio authored several influential books, including Principles: Life & Work (2017), Principles for Dealing with the Changing World Order (2021), and others on economic cycles and decision-making. He fully transitioned leadership at Bridgewater after 50 years, selling his remaining stake, while continuing philanthropy and economic commentary, such as on debt, AI, and global shifts. His interests extend to meditation, history, and ocean exploration, reflected in his charitable work.

This is a dated development in Ray Dalio’s public story. Get Mentors did not find a sufficiently close earlier story or principle to make a responsible comparison, so no broader lesson is being inferred from it.