Bridgewater Associates, the most important hedge fund on the planet based by Ray Dalio, has navigated a number of market downturns with nice success. The latest coronavirus-induced sell-off isn't one among them, nevertheless.

The Monetary Occasions reported Bridgewater's flagship fund the Pure Alpha Fund II is down about 20% for the yr following the swift plummet from all-time highs right into a bear market from shares. For March, the fund was down about 13% by Thursday's shut, in response to the report. General, Bridgewater manages greater than $160 billion in property. 

"We didn't know the way to navigate the virus and selected to not as a result of we did not assume we had an edge in buying and selling it. So, we stayed in our positions and looking back we must always have reduce all threat," Dalio advised the Monetary Occasions in an announcement.

Bridgewater's huge losses come after Dalio advised CNBC in late January buyers ought to take money out of their...