Raymond Dalio is an American billionaire investor and hedge fund manager, who has served as co-chief investment officer of the world's largest hedge fund, Bridgewater Associates, since 1985. He founded Bridgewater in 1975 in New York. His innovations are regarded as some of the best in the industry, having popularized many commonly used practices, such as risk parity, currency overlay, portable alpha and global inflation-indexed bond management. Dalio is the author of the 2017 book Principles: Life & Work, about corporate management and investment philosophy. It was featured on The New York Times best-seller list.