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Hedge fund managers including Ray Dalio and Adam Levinson suffered record losses in March as the novel coronavirus hammered their portfolios. Around 75% of hedge funds posted losses last month, including nine in 10 credit funds, Bloomberg estimated based on preliminary data. Dalio's Bridgewater Associates lost 16% in its flagship fund, Levinson's Graticule Asset Management recorded a 9% drop in its macro fund, and...

Billionaire Ray Dalio — the founder of Bridgewater Associates, the world's largest hedge fund — told Bloomberg he sees a 25% chance of recession in 2019 and through 2020. He cited the effectiveness of central bank policies, the wealth gap, the 2020 US elections, and the economic emergence of China as key factors in deciding the intensity of the next economic downturn. The Bridgewater...