I don’t really understand why we should care about a fund or its managers.
Unlike product companies, funds don’t contribute anything meaningful to the world. It’s a zero-sum game where someone comes out on top with $19 billion dollars and then goes to Burning Man. That’s acceptable but not admirable.
The only difference between Dalio and Madoff is that the former actually has the money. Neither has a legacy.
He is playing in one of the most difficult and competitive games in the world, has a track record of crushing it, and has produced excellent work to document and share the mindset which helps him do it.
He obviously has a legacy. People like me respect him. You don't like his legacy. That doesn't mean he doesn't have one.
Unlike product companies, funds don’t contribute anything meaningful to the world. It’s a zero-sum game where someone comes out on top with $19 billion dollars and then goes to Burning Man. That’s acceptable but not admirable.
The only difference between Dalio and Madoff is that the former actually has the money. Neither has a legacy.