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Ray Dalio: Westport's Bridgewater Not To Blame For Stock Plunges

Greenwich's Ray Dalio told the Financial Times he didn't believe that Westport's Bridgewater was at fault for the recent stock market instability.
Greenwich's Ray Dalio told the Financial Times he didn't believe that Westport's Bridgewater was at fault for the recent stock market instability. Photo Credit: File

WESTPORT, Conn. – Greenwich billionaire Ray Dalio, the richest man in the state, doesn't believe that the Westport-based hedge fund he founded was one of the causes of the recent stock market instability, reports Business Insider.

In a new paper released by Bridgewater and obtained by the Financial Times, Dalio disputes claims that the 'risk parity' strategy led by his hedge fund had a direct hand in last month's market fluctuations, Business Insider said.

The paper states that the money lost last month was a relative "drop in the bucket" compared to the size of global markets, according to Business Insider.

According to Forbes, Dalio is worth an estimated $15.2 billion.

Click here to read the rest of the Business Insider article.

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