"Some investors, who asked not to be named discussing private deliberations, say they've been frustrated by lackluster returns going back years — including 2023’s loss — and are considering exiting the fund if performance falters again. They say they're frustrated after a leadership transition that took a decade longer than expected and featured seven different people holding the CEO title." That's on Ray Dalio, why not leave then; rather than now levy threats at new CEO.
Anyway, the turnaround - or the new chapter has been kind of rocky. It is when a new guy comes in to shake things up - then there will be winners and losers. Some of the new losers were winners under the old guy, so there will be a bit of rancor there. Some of the things that the founder kept made sense only to the Founder's ego, and that had to go - and 'that' usually included people and systems.
"The firm’s assets have already dropped to $75 billion from a peak of around $100 billion. Soon, the world’s largest hedge fund might not have that label anymore — but if Bar Dea’s plan succeeds, it will be a better-performing one." Well, if investors keep threatening to pull funds, some of them may be allowed their wish.
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5moWhat a fun day! Big thanks to the incredible team at Voloridge who put this together. 😍