3. Ray Dalio
Among 2015's top hedge fund earners are five men who actually lost money for some investors last year but still made handsome profits because their firms are so big.
Mr. Dalio, 66, founded Bridgewater Associates, the world's biggest hedge fund firm with $150 billion of assets under management. Mr. Dalio is frequently quoted promoting a strategy he calls risk parity. Yet Bridgewater's risk parity fund, called All Weather, lost investors 7 percent in 2015.
Still, two funds using a different strategy had gains: Pure Alpha II was up 4.7 percent, and Pure Alpha Major Markets was up 10.6 percent for the year.
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