Bridgewater Stays Gloomy for 2012 - WSJ.com

http://online.wsj.com/article/SB10001424052970204368104577136531481564726.html

Bridgewater Stays Gloomy for 2012 - WSJ.com

BY TOM LAURICELLA

Bridgewater Associates has made big money for investors in recent years by staying bearish on much of the global economy. As the new year rings in, the hedge fund firm has no plans to change that gloomy view.

Robert Prince, co-chief investment officer at Bridgewater, and his managers at the world's biggest hedge fund firm are preparing for at least a decade of slow growth and high unemployment for the big developed economies. Mr. Prince describes those economies—the U.S. and Europe, in particular—as "zombies" and says they will remain that way until they work through their mountains of debt.

"What ...