With his flagship Pure Alpha II fund lagging many of its peers, one would think now is a great time for Ray Dalio to consider new ways to get his investors back on track.
Instead, Dalio has gone a different route: mentoring rap stars on the ways of high finance.
Dalio took to Twitter on Tuesday to announce that his new apprentice is hip-hop entrepreneur Sean “Diddy” Combs. In his Tweet, he posted a 25 minute video of a "mentoring session" with Combs, where the two explored techniques including “radical open mindedness.”
Yes, this is coming from the guy with surveillance cameras in his meeting rooms...
He asked me to mentor him to help him take his great success to another level. In this video you will see a recent mentor session of ours and you will see a @Diddy that you probably haven’t seen before. pic.twitter.com/2vSWNOpbUx— Ray Dalio (@RayDalio) December 10, 2019
“You will also see why I want to help him and why I believe our relationship exemplifies how people with different backgrounds and different perspectives can work together harmoniously for the greater good,” Dalio said on Twitter.
As we noted days ago, Dalio's rise to celebrity status belies his firm's lagging returns of late.
Strangely, the height of Dalio's popularity appears to be happening at a time when the $40 billion Bridgewater Associates' Pure Alpha II fund is posting what Bloomberg calls one of its "worst years on record".
Let's see how this new bit of news fares with Dalio's investors.