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One such reader was McDonald’s. When the fast food giant invented the Chicken McNugget, they came to Dalio to help hedge chicken prices after reading Daily Observations. “They came to me and said, ‘Look, we have all of this exposure. How do we protect ourselves so we don’t have to change the menu price of Chicken McNuggets all the time?’ I helped them through that.” Another such client was Nabisco, which needed to manage its interest rate currency and commodity risks. “But they would also give me authority,” says Dalio. “So when I say ‘managing,’ they’d give me a piece of the profits I created on top of the fees.”


Cover of The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds