全球最优秀的对冲基金管理哲学.docVIP

全球最优秀的对冲基金管理哲学 My overriding objective at Bridgewater is excellence, or more precisely, constant improvement. First and foremost, I want to have a culture of excellence that results in a superb and constantly improving company in all respects. To achieve excellence I believe that truth, or more precisely, ones accuracy in understanding reality, is essential. I also believe that radical openness, though it can be uncomfortable, is essential in getting at truth. Truth serves as the foundation for excellence, and openness helps to assure truth.Ill do whatever it takes to make the company great, including the difficult and uncomfortable things. I need to have people around me who are similarly motivated, both because I cannot achieve the companys goals alone and because I would not want to (I want to work hard and celebrate the success with others). I have been very lucky in this regard as several people who share the same philosophy have been with me for many years, and there are many more who have been here less time that I am optimistic about. The greatest compliment someone could pay me is to tell me what a great team of people I have assembled. But, I wont compromise excellence for the team.This brings me to the subject of conflict. Conflict in the pursuit of excellence is a terrific thing and is strongly encouraged at Bridgewater, in fact demanded. I want people to explore disagreements because this allows us to identify truth and overcome possible impediments to excellence. There should be no (or as little as possible) hierarchy. Certainly there are organizational superior/subordinate relationships; however, every subordinate is encouraged to debate with his or her superior if he or she thinks they know the better way, and every superior is required to encourage this. These discussions should take place openly and, if disagreement remains, appropriately knowledgeable parties should be consulted. The superior is encouraged to only rarely use the authority of h