But, but, but - the "How the Economic Machine Works" video. Didn't Ray have it all figured out?
Apparently not. In addition to the fund's worst losses in a decade, there is a "sprawling list of troubles" being dealt with internally, according to Bloomberg. These trouble include internal computer models misreading the market (also known as the New York Fed model), $3.5 billion in redemptions during the first 7 months of the year and Dalio losing an arbitration fight with ex-staffers.
He also has ongoing feuds with his co-cheif executive and has laid off "dozens" of employees, according to the report.