Friday, 27 May 2016
Last updated 22 min ago
Jul 13 2010 | 1:10pm ET
Bridgewater Associates, the world’s second-largest hedge fund, could be looking for some new office space.
The $43.6 billion firm has been based in the Connecticut town of Westport since the mid-1990s. But the Ray Dalio-led hedge fund is now considering a move from its 47,000-square-foot home 35 miles northeast of New York City, Westfair Online reports.
First on the list of potential home is apparently Stamford, 15 miles down the Merritt Parkway, closer to New York and full of available office space.
The address may change, but one thing—or 295 things—won’t: the principles by which Dalio runs the firm, issued to each employee at the firm in the form of an 83-page handbook. The rule getting the most attention is Principle 11: “Never say anything about a person you wouldn’t say to him directly. If you do, you are a slimy weasel.”
Break the no-gossip rule three times, and you can be fired.
“Bridgewater is definitely not for everyone,” Dalio wrote to Dealbreaker in May. “As explained in my principles document, I believe that truth is healthy, and that most people can get what they want if they understand what’s true and learn how to successfully deal with it.”