Read the storyWhen Nir Bar Dea took over from Ray Dalio as chief executive of Bridgewater Associates 18 months ago, he needed to revive a hedge fund that while once the industry's most profitable had since lagged rivals. He embarked on that effort with a major management shakeup in his first year as CEO. He also has taken steps to dial back some of the more unusual aspects of the firm. Many executives within Bridgewater have applauded the changes. Yet the turnaround has been tumultuous. Some investors say they've been frustrated by lackluster returns going back years—including last year's loss—and are considering exiting the fund if performance falters again. Read The Big Take. ICYMI: The weekend Big Take More than 1,000 people fled their homes in Joshimath, India, last year as cracks began to appear and buildings started to sink. The community in the Himalayas is just one of many being challenged by the growing impact of climate change and Narendra Modi's plans for a region along India's contested border with China. Both are coming into sharper focus ahead of the country's elections starting this month. Read more: A Building Boom in the Himalayas Threatens Climate Disasters |
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