The World's Largest Hedge Fund Had a Huge Quarter Betting Against the Euro

Bloomberg Business reports:

Ray Dalio’s dire view on Europe is paying off.

His Bridgewater Associates, the world’s largest hedge fund, climbed about 14 percent this year through March in one of its strategies, according to a person familiar with the matter. The year-to-date return was fueled by a bet against the euro, said the person, who asked not to be identified because the information is private.

“The lack of aggressive policy action by the ECB and other governing actors has resulted in stagnation and depression across much of the Eurozone,” the $165 billion Westport, Connecticut-based firm wrote in its 2015 strategic report, a copy of which was obtained by Bloomberg News.

A spokeswoman for Bridgewater declined to comment on the returns.

The trend in the Euro?