“Understand that you don’t have anything to concern from the reality.” It’s proper up there on the high of Bridgewater Associates founder Ray Dalio’s Principles, simply after “belief in fact” and instantly previous “have integrity,” “be radically clear” and “don’t tolerate dishonesty.” Nowhere, not even in a lettered or sub-numbered sub-principle, do we discover “make things up when convenient” or “ignore the contents of the Bridgewater Blockbuster if it doesn’t assist make your level.”
A 3-arbitrator panel discovered on July 1 that Bridgewater had fabricated proof, withheld proof and disregarded its personal information in pursuing its claims, based on a July 13 submitting by the previous staff’ attorneys. The submitting in New York State Supreme Courtroom recounted points of the arbitration and summarized parts of the panel’s discovering…. Bridgewater introduced its claims “to not show misappropriation, however slightly, to adversely have an effect on [Messrs. Squire’s and Minicone’s] means to conduct a aggressive enterprise,” the submitting mentioned the panel discovered.
At difficulty earlier than the arbitrators was Squire and Minicone’s founding of their very own hedge fund, Tekmerion Capital Administration, and whether or not it had used the secrets and techniques discovered deep in Dalio’s Cave of Contemplation to get it off the bottom and get the likes of Mike Novogratz and Alan Howard to speculate. The panel, after two years of discovery, eight days of hearings and “voluminous post-hearing briefing” discovered that they’d not, and in addition that Bridgewater owed its former fees almost $2 million for his or her bother.
The panel additional discovered the commerce secrets and techniques Bridgewater alleged its former staff had violated had been publicly accessible or “usually recognized to professionals within the trade.”
Now there’s a reality to concern: That the Svengali of Westport has no Principled proprietary practices to cost such lavish charges on that $140 billion.
Bridgewater Loses Claims It Brought Against Ex-Employees Who Launched Hedge Fund [WSJ]
![Niti Aayog Internship 2023 [Oct, 6 Weeks, Unpaid]: Apply by Oct 10](https://www.lawctopus.com/wp-content/uploads/2023/10/Niti-Aayog-Internship-2023.jpg "Niti Aayog Internship 2023 [Oct, 6 Weeks, Unpaid]: Apply by Oct 10")
