Dalio: Going public would be a 'nightmare'

Ray Dalio speaks with CNBC at the 2014 WEF in Davos, Switzerland.
Patrick Bucci | CNBC
Ray Dalio speaks with CNBC at the 2014 WEF in Davos, Switzerland.

Don't expect Ray Dalio to take part in the frenzy of companies going public.

There have been $176 billion worth of initial public offerings in 2014, according to Dealogic, and the blockbuster $21.8 billion Alibaba debut Friday was the biggest ever. The pace is the second-highest ever and could be tops before the year is over.

Don't expect Dalio, head of $120 billion Bridgewater Associates, to join the party anytime soon.

"For me it would be a nightmare," Dalio said Monday at the Bloomberg Most Influential Summit. "What you do this for, money? I've got enough money. ... I want to be able to pick my friends."

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Dalio was joined in his skepticism over going public by Michael Bloomberg, with whom Dalio shared the stage.

"Stockholders have different interests," Bloomberg said. "That's fine ... but I only have to worry about one person's interests and desires."