The boss of the world’s largest hedge fund goes into politics

Posted on Jan 8, 2022, 9:01 amUpdated Jan 8, 2022, 9:04 AM

From Wall Street to the Capitol. The boss of the largest hedge fund in the world has decided to move from the arena of markets to that of politics. David McCormick, the leader of Bridgewater, will seek the post of senator in Pennsylvania under the Republican banner. He was among the potential candidates to succeed Bridgewater founder Ray Dalio, currently Co-Chairman and Co-Chief Investment Officer.

David McCormick had been the Treasury Department’s Under-Secretary for International Affairs (2007-2009) under President George W. Bush just before joining Bridgewater. A graduate of West Point Military Academy, he participated in the First Gulf War in 1991 before earning a doctorate in international relations at Princeton. His thesis was on the reduction of American military power after the Cold War. The analyzes that the hedge fund has been addressing to investors for several years give pride of place to geopolitics (especially the clash between the United States and China) and history. David McCormick was no stranger to it.

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