[bko]

Im not an insider so I could be wrong, but I read about underperformance through news articles. Here's one i just read

> Since the beginning of 2012, Bridgewater’s Pure Alpha II has posted an annualized return of 2.5 percent, according to a document reviewed by Bloomberg Markets, a far cry from its historic average of 12 percent. It’s down 2.8 percent this year through July. (A smaller Bridgewater hedge fund, Pure Alpha Major Markets, has fared better, as has the company’s long-only product.)

> Even a hardcore fan is concerned about performance. “Their returns have been unspectacular recently, and it makes you wonder if this is the beginning of the end,” says Michael Rosen, chief investment officer of Angeles Investment Advisors, who’s steered clients to Bridgewater since the early 2000s and prizes its research reports over others in the industry. “There’s only been one market cycle since the financial crisis, and so if this performance continues in the next cycle, then there may be cause for concern.”

https://www.bloomberg.com/view/articles/2017-08-10/truth-yac...