The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds (37 page)

Hedge Funds Research’s Monthly Indices–2011 Monthly Performance
^*

Source:
Hedge Fund Research, Inc. (HFR).

^*
Comprised of research from 6,800 funds and finds of funds collected directly from fund managers and/or their respective offshore administrations.

Hedge Funds Research’s Monthly Indices–Quarterly Performance Q1 2011–Q4 2011

Source:
Hedge Fund Research, Inc. (HFR).

Estimated Growth of Assets/Net Asset Flow Hedge Fund Industry 1990–2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

Estimated Change in Assets per Main Strategy Net Asset Flow vs. Performance-Based Q4 2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

Estimated Strategy Composition by Assets Under Management Q4 2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

Estimated Total Number of Hedge Funds and Fund of Funds 1990–2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

Estimated Number of Funds Launched/Liquidated 1996–YTD Q3 2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

Estimated Growth of Assets/Net Asset Flow Equity Hedge (Total) 1990–2011

 

Source:
Hedge Fund Research, Inc. (HFR).

 

References

Introduction

Interview

Ray Dalio, founder, Bridgewater Associates, April 2011.

References

Deutsche Bank’s Tenth Annual Alternative Investment Survey, Deutsche Bank, conducted December 2011, released February 2012.

“Hedge Fund Investors Rotate into Macro, Arbitrage Strategies for 2012,” Hedge Fund Research. Hedge Fund Research, Chicago, Illinois, January 19, 2012,
www.hedgefundresearch.com
.

“Great Money Managers,” LCH Investments NV, February 2012.

Chapter 1: The Global Macro Maven: Ray Dalio, Bridgewater Associates

Interviews

Ray Dalio, founder, Bridgewater Associates, April 2011.

Ray Dalio, founder, Bridgewater Associates, May 2011.

References

Bridgewater:
www.bwater.com
, January, 2011.

Brewster, Deborah, “The Alpha and Beta of a Lone Manager.”
Financial Times
, January 8, 2008.

Celarier, Michelle, and Lawrence Delevingne. “Ray’s Radical Truth.”
AR: Absolute Return
+
Alpha
, March, 2011.

Corkery, Michael. “The Quirk: Fund King Muses on Truth and Weasels.”
Wall Street Journal Europe
, June 21, 2010.

Dalio, Ray. “Culture & Principles.” Circa 2010. Bridgewater Associates, August 2011,
www.bwater.com/home/culture–principles.aspx
.

Hutchings, William. “Bridgewater: The Hedge Fund that Thinks It Isn’t.”
Financial News
, October 18, 2010,
www.efinancialnews.com/story/2010-10-18/bridgewater-ray-dalio-unshackled-conventions
.

McDaniel, Kip. “Is Ray Dalio the Steve Jobs of Investing?”
aiCIO
, December 14, 2011.

“Ray Dalio: Extremely Bullish about Emerging Markets.”
Seeking Alpha
, March 9, 2011,
http://seekingalpha.com/article/257333-ray-dalio-extremely-bullish-about-emerging-markets
.

“Ray Dalio’s Favorite Stock Picks.”
Seeking Alpha
, April 1, 2011,
http://seekingalpha.com/article/261331-ray-dalio-s-favorite-stock-picks
.