I had always assumed (perhaps cynically) that Bridgewater's elaborate system was part of its marketing to people who run endowments and pensions. It gives peopl

I had always assumed (perhaps cynically) that Bridgewater's elaborate system was part of its marketing to people who run endowments and pensions. It gives people a sense that they are working with the best and hardest working, even if in reality their returns are equal to other less notable firms.