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  • The Fund

  • Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend
  • Written by: Rob Copeland
  • Narrated by: Rob Copeland, Will Damron
  • Length: 12 hrs and 54 mins
  • 4.2 out of 5 stars (17 ratings)

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The Fund cover art

The Fund

Written by: Rob Copeland
Narrated by: Rob Copeland, Will Damron
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Publisher's Summary

This program features an author's note and epilogue read by the author.

The unauthorized, unvarnished story of famed Wall Street hedge-fund manager Ray Dalio.

Ray Dalio does not want you to listen to this audiobook.

Late last year, when the billionaire founder of Bridgewater Associates, the largest hedge fund on the planet, announced that he was stepping down from the company he started out of his apartment nearly 50 years ago, the news made headlines around the world. Dalio cultivated an aura of international admiration and fame thanks to his company’s eye-popping success, coupled with a mystique he encouraged with frequent media appearances, celebrity hobnobbing, and his bestselling book, Principles. In The Fund, award-winning New York Times journalist Rob Copeland punctures this carefully constructed narrative of the benevolent business titan, exposing his much-promoted “principles” as one of the great feats of hubris in modern memory—in practice, they encouraged a toxic culture of paranoia and backstabbing.

The Fund is a thrilling, stranger-than-fiction journey into a rarefied world of wealth and power. It offers an unflinching look at the pain so often caused by the “radical transparency” Dalio has described as a core tenet of his recipe for business success and a meaningful life. Drawing on hundreds of interviews with those inside and around the firm, Copeland takes listeners into the room as former FBI director Jim Comey kisses Dalio's ring, recent Pennsylvania Senate candidate David McCormick drinks the Kool-Aid, and a rotating cast of memorable characters grapple with their personal psychological and moral limits—all under the watchful eye of their charismatic leader.

This is a cautionary tale for anyone convinced that the ability to make lots of money has anything at all to do with unlocking the principles of human nature.

A Macmillan Audio production from St. Martin’s Press.

©2023 Rob Copeland (P)2023 Macmillan Audio

What the critics say

“At last, the era of the billionaire philosopher-king has a defining book. The Fund is a taut, nonfiction thriller."—Bryan Burrough, author of Barbarians at the Gate

“A classic American story about the most famous man on Wall Street—or the person he seems to be. The Fund manages to both shock and entertain at the same time.”—Philipp Meyer, bestselling author of American Rust and The Son

"The most explosive, mind-blowing business book I've ever read—and the most fun, too."—Bradley Hope, co-author of the New York Times bestseller Billion Dollar Whale and Pulitzer Prize finalist

What listeners say about The Fund

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Nineteen Eighty-Four & Handmaid's Tale aftertaste

This book has left me with an aftertaste of Nineteen Eighty-Four & Handmaid's Tale combined.

It is shocking on so many levels. It'll take some time for me to absorb and reflect on what I just heard.

Bob Elliott's story (his refusal to mortgage his future career's earnings to buy a piece of a black box at a price that can't possibly be validated by any third party) has struck me the most.

Outstanding investigative work done by Rob Copeland.

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  • Overall
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Too negative

This book was too negative. Too little time was spent reviewing Ray D’s successes and abilities. It did feel to be too much about stories from an x-wife or disgruntled employee. I think there could have been a better way to openly try to understand how he got successful and the positive side of it. Overall as somebody who was very interested to learn more about the man and the company, the book was one-sided and disappointed

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A Money Cult

Extremely fascinating. As a long time follower, I've always had my suspicion because everything Dalio has been selling sounds more like snake oil than any intellectual achievement. A lot of very rich and powerful won't like this book and they will try to paint it as a smear campaign. I have two reasons to believe that it's not 1. There are too many highly consistent details for the author to fabricate unless he's an unbelievable genius 2. BW could easily disprove some stories by just be slightly transparent but they refuses to do so, instead all they do is bullying and gaslighting. To my amazement, everything Dalio does described in the book comes straight out of Stalin and Mao's playbook it's uncanny.

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Lifting the Curtain

A story of what happens when luck is conflated with skill and of a thin-skinned, insecure individual who requires constant affirmation. The author presents Bridgewater as a cult, where like any true cult leader, Dalio’s theocratic “Principles” apply only to others and never to the leader himself.

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Mind-blowing masterpiece

This is an expose on Bridgewater. I’ve followed the firm and Ray Dalio for decades and have read his book Principles and subscribed to the research. This is an extraordinary story of firm and its founder that is a captivating must read.

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The worst

Narrator is boring and hard to listen to. Not to mention the writing is not great. Don’t recommend.

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