Business

Ray Dalio’s Bridgewater Associates might become the first hedge fund to hand over the reins to an algorithm.

At least that’s the takeaway from Bloomberg’s latest profile of the hedge fund billionaire, who founded Bridgewater Associates, presently the world’s largest hedge fund with more than $160 billion AUM. The profile offers an update on the firm’s difficulties in formulating a succession plan, as well as its founder’s quest to automate many of its management functions.  

Authored by John Galt via JohnGaltFla.com,

Way, way, way, way back before televisions were generally available in color, cable was a luxury reserved for hotels and the wealthy, and financial television was reserved to Louis Rukeyser and a weekly program on PBS and the “Nightly Business Report”, the idea of information beyond the 6:30 p.m. national newscast was considered absurd.

It's easy to summarize the just reported SNAP Q2 earnings report with just one word: disaster.

The company missed expectations on everything: from revenue, to earnings to average daily user, but at least it burned a boat load of cash doing it: a quarter billion dollars, or $228 million.

The details:

"Pause that refreshes"

Well that escalated quickly... From the open on Tuesday, the "fire and fury" dump, the ubiquitous BTFD ramp dead cat bounce... and today's flush...

"Not Off The Lows"

Content originally published at iBankCoin.com

Carlos Rodriguez, CEO of payroll processor ADP, likened activist investor Bill Ackman to a "spoiled brat" who wants a schoolteacher to give him an extension, adding "I'm directly saying he doesn't know what he's talking about."