Ray Dalio on Career, Market Cycles, China Debt
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- Опубликовано: 4 июн 2024
- Nov.19 -- Ray Dalio, co-chairman and founder at Bridgewater Associates, discusses his career, his views on management strategy, and the outlook for investing in China. He speaks with Bloomberg Opinion columnist Barry Ritholtz at the Bloomberg Opinion Masters in Business event. Ritholtz's opinions are his own.
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Ray Dalio is not only an icon for our generation to learn to understand the economy, but he’s also so humble that it’s easy to miss just how significant his observations are
He was not always humble, but certainly humbled by experiences.
@@SuperKonkari Which actually makes it more interesting, since being arrogant (he will be the first one to admit that) led to his 80s crisis fiasco.
I literally typed the same thing even before reading your comment!
In 21 lessons for the 21st century by Harari, he talks about how humans think in stories rather than facts and logic. He says that humans usually use their intellect to reinforce the stories they believe rather than seeing if their beliefs/stories are actually true.
I think Ray's experience with the markets(or anyone) lead to thinking logically because believing false things in the markets leads to pain.
I also think politicians are very big on stories compared to facts :/
You realize that it's all an act? Read his books.
Maybe wisdom comes with age, I just find Ray Dalio so humble, polite, nice tempered, patient, intelligent and wise. He is even teaching everyone about economics and etc via RUclips videos. For someone who is so rich, it is amazing to see he care so much about other people. We need more people like him in the world.
Lol these cyber warriors just can't help themselves, look at these morons trying to hit Sun with their Ak-47s
The booklist from the second question (32:55):
The Lessons of History by Will and Ariel Durant
The Hero With a Thousand Faces by Joseph Campbell
The Rise and Fall of the Great Powers by Paul Kennedy (particularly this one)
Thanks!
Woah
Thank you!
Also 25:25 "Destined for War" by Graham Allison
one of the few man who is able to address 1) ego barriers 2) Blind spot problems. How to know what you do not know? ray dalio idea meritocracy is one of the solutions. love his books n articles. i have seen too many in the financial industry talking gibberish and voodoo , Ray is a beacon of light. Thank you for your ideas and books
Ray Dalio, you have a beautiful mind! I could listen to you for hours and hours and never get tired of your insight! Thank you for sharing.
I SUGGEST REWIND AT LEAST 5 TIMES
When it comes to macro economists, or finance guys, or any other spectators and analysts of the economy, there's no one who I trust more than Ray Dalio.
Ray Dalio: American Hero. Hopefully US Treasury Secretary in the next US Administration. He has the best people, we will need him.
Anyone who had "fell hard" financially would surely concur with much of Ray's beliefs and principles. Yes, the most important take away is his humility about him predicting wrongly about the market in 1982. One cannot be too certain. I like to quote this from Howard Marks' story of the one horse race. Even if one is so certain about an outcome, something else can happen instead. Appreciate Ray Dalio for his generosity in sharing his lessons and experience.
The China debt Q&A at the end was the best. You can desagree with Ray all you want about China, but you have to respect that he's only following his process and that's what we all should be doing.
Mr. Ritholtz, your interviews are pure gold and a delight to learn from.
China debt is the last question in the Q&A; glad that I listened to the end.
thanks i went straight to the last question
great to hear Rays view of the China debt, so many nay sayers out there who dont have Rays depth of researched insight.
@@pixelmasque I know right, I have been investing in china as I have low confidence in US stocks considering their current valuations while many chinese stocks just went through a bear market. And it surely is reassuring to know that El Maestro is investing there as well and feel confident about the country's future.
I find him so much more insightful than other “elites”.
He’s willing to acknowledge problems like inequality and political fragmentation that others won’t confront.
Wish we had leaders who could understand this.
Buffet doesn’t seem to grasp the “paradigm” we are going into.
His style of conversation is so natural and forthcoming that it strikes a chord every now and then and allows one to reflect inwards and outwards in a more practical and doable way. Amazing.
Really did not know a lot about Ray Dalio but that was a very well-spent hour of my time. Thank you for this interview, just mindblowing
ruclips.net/video/B9XGUpQZY38/видео.html
Ray always makes sense
Thank you mr Ritholtz for the interview! Great stuff :)
Mr. Dalio should run for POTUS
More so people should listen to what he is saying.
Ray will MAGA, wich is not a good idea, just stick with dumpo.
Dumpo as POTUS is more entertainment, the world is now laughing at the US which will not happen without dumpo.
He is too sincere, he would never win. Nice thought, though.
I would say he be appointed Fed Chair
I wish.
Openness, transparency, honesty, and no politics. Hard to imagine such a company in today's world.
At the management level. A great way, to run a country. Instead of, what's best for the party, and how do we make the other look wrong/bad.
Amazing guy and amazing advice for life he gives us. Interview was just great, hour well spent. :)
thank you you bring so much value to my life...please take my yoga class in nye
Bloomberg Market is an excellent channel. Well done. I like the ones with a historical perspective very much.
Fantastic....thank you....very good interview....
Thank you for the books you recommended...
love it! i love Ray Dalio what a pleasure
Ray Dalio low key, just described a metacognitive process. By inverting the process of how to make a judgement made to how to conceptualize a problem, he inverted the typical equation of judgment then problem, by choosing to reconceptualize the world, (hence the problem.) So rather than writing a plan of action he chose to meta his own thinking. So instead of writing a strategy he wrote a ‘What do I think?’ first and then a ‘What do I think about what I think and what can I make of this?’ Scrutinizing his understanding on paper to allow and better scrutinize his own judgment (written) in order to arrive at a more accurate depiction of reality (the world.) (hence other, opposing minds come in handy as antagonistic and scrutinized for his version of the world.)
Here it is better to conceptualize/envision the understanding; really the problem and then the judgment as to how to act. This is required, for better action.
This is most incredible because he accurately describes the process, he’s describing meta-cognitive thought and is a great communicator. The guy basically is not talking about the economy, he’s a low key great communicator. He’s visualizing a problem before attacking it. People don’t do this even if they think they do, it’s not the judgement made first, it’s writing the conditions of action. Or more specifically the question or what causes/provokes the necessitates action. This allows him to play to a more parallel world. He’s therefore much more congruent with reality. He’s a straight forward thinker. I think his thinking is as much a result of his scrupulousness as it is his way to meta his own judgement.
He delineates the conditions for action in the world before how he’s going to act in it.
There concisely, fucking finally.
Thanks.
Nice capture. I also think it is an effect of being long time meditation practitioner.
It taught you how to observe your mind and its behavior.
How fucked up were you when you wrote this? Honest question.
you blew my mind, thank you
Hey guys, thanks for the honest questions. I don’t understand why ‘I’m high’ when writing but this stuff is hard to describe. I always think paradoxically it’s easy to define stuff and harder to describe it.
Anyways, I’m practicing writing, so I’ll happily take the compliments and run with them.
@@Nukacola633 Academia-level of writing, tons of "big words" but adequately explains Dalio's and your points. Keep it up bro, but try to keep it simpler. RUclips people isn't exactly inclined to improving their intellect.
excellent host, asked correct questions at right moments!
36:14 - agressivness in action, humility in learning!!!
Mr Dalio is quite simply god. He should rule supreme over us all. He truly is the essence of Dear Leader.
not so much Dear, if you read his book, he also told us that he's very good at insulting and belittling other people around him
except for the 82 thing
I am a 30-something millennial and I love this man's intellectual integrity
He says " absorb everything from not knowing." the word he says is sincere instruction towards me to start my career in the financial industry.
where?
Ray is an icon!
25:29 what is the book Ray recommended ? I didn’t catch it
Two men who think out of the box !!
Ray is fucking KING. The best thought process I´ve heard.
ray Dalio can think and articulate so clearly that beats every single economics book out three . He deserves a Nobel prize!
thanks for all the comments convincing me to sit through this! enjoyed it
Ray Dalio is amazing
진짜 천재다 그때당시에 알고리즘을 생각해 냈어
Great man
Where was this venue? Would really love to see Ray Dalio
The best. First in class.
great person
15:48!
I'm so happy because l just received my payment successfully from. Mr.Charles thanks for keeping to your words I now believe you are legit at @Charles_forex09 at IG .
44:52 Ray knows!
LOL Iove this comment, he does
Simple yet not easy rules to follow
Oh, how relevant Ray's ideas are today
21:20 basically talking about the stage that we are in and going to right now
The last 5 minutes are prophetic
You Riches are the future for ours beloveds keep it ON
So clever and still so humble. Ray Dalio is just an outstanding person.
I use to remember don’t want money but Love . Guessing what happened got heather but strength
That laugh when he mentions crypto. Has anyone heard him laugh like that before?
Timestamp?
@@JonesDawg Look through the comments, already posted.
Found it@@johnny3583 , danke kamerad!
44:49
lollll
we love space x we traveled to Boca Chica to see the starship get built. & we got the S dual motor fsd last Christmas 🎄 😎 still have the cybertruck tri motor or 4 motor fsd on order, i got lots of solar & backup battery system to charge them both. i have tsla too. i just got tired of paying $5 for a gallon of gasoline
Watch "The China Hustle"
Damn... this is some real stuff right here.
1:45 BIG DANK
I heard you, John Authers (FT)
33:46 - for young people!! Be humble, seek advice!!
39:15 "when it gets bad enough, they will always print". On the money, isn't he?! Or in our current situation, on the trillions.
^ underrated comment
If the world keeps buying they they will keep printing. Problem arrives when they slow it down on the buy side but the printing side doesn’t. And we already see it, they are buying hard asset in real estate and factories.
They are not really printing. The FED is buying back treasuries from commercial banks in exchange for money. This is also known as Reverse Repo or Debt Monetization. Conversely to common understanding- reverse repos take liquidity out of the market and therefore create a deflationary economic crisis e.g. it will be harder to get access to credit, followed by a housing bubble burst ten times worse than 2008. Look at China and the Evergrande situation now. The crisis will hit us by December.
Give the name of is best students
49:50 agree
Life is not like that
this guy speaks the truth
Great
This guy is a Genius beyond Genius. Gotta practice is medication habits.
We are destine to repeat the past, over and over again.
"like crypto.."
"haaa hahahaha" (are you kidding me).
44:55
Word of the day: analogous
Tell me about Roger the hedge the Sword thé chap and the Horse
Steady Dan
33:10 ray recommended books
What is more interesting, Ray or the audience?
About will you’re all Righteous
did he just completely doge the crypto question??? LOL
Yeah. That can be understood both ways, depending on your bias to cryptos! I did get it the other way around ;-) 1600 different cryptos and counting?
The real question is this. If we could replay the history to 1937, what should US have done differently? The answer should be very useful for dealing with today's issues.
And read: Generations or The fourth Turning by Neil Howe and William Strauss!! You could literally know what will happen until 2069 reading these books that will make you understand attitude and reactions in people or generations. A MUST!!
Ray Dalio has a computer program at work that evaluates and weights every member's opinions including his own. Instead of adopting his own, he follows what the program shows........
audio is too low
Turn your volume up.....
Turn it up then
I had it on max in my Kenworth, still struggled to hear it...Sultan is right. The other, shorter clip from the same interview is louder.
Low AF
Sultan Trader There's a button for that.
If the Message is "diversification is key" then he is promoting MSCI world ETF?
@CollinMcDirt you may want to watch „holy grail of investing“ where he explains this concept (5min) ruclips.net/video/Nu4lHaSh7D4/видео.html in essence: diversification with uncorrelated assets... a nice place to start thinking about portfolio construction.
46:27 - 50:25 < This is the secret for him, all the success comes from here.
I really wanted to hear him respond to thoughts on crypto. I guess he doesn't have any.
44:55 There's your response!
A few weeks or months ago there was a shorter bloomberg clip with him talking briefly about shadow banking at one point. I wondered if he wasnt referring to crypto there.
I thought the laughter pretty much sums it up...
What nobody’s told you what can one know
Are you Canadian
Everyone loves Ray... and this guy literally ate your lunch on Wall St.
"I love the way you took our pensions and I love the way you made my family homeless! OH THANk you Ray Dalio!"
18:22 - CREDIT INCREASES PURCHSING POWER, BCAUSE MONEY IS DEBT!!!
Uk
ray dalio generation ancient
Get instructions followed the wise
3 book recommendations by Ray Dalio at around 33:00
- The Lessons From History, Will Durant, Ariel Druant (amzn.to/2Buf4jC)
- The Hero with a Thousand Faces, Joseph Campbell (amzn.to/2znmseO)
- The Rise and Fall of the Great Powers, Paul Kennedy (amzn.to/2zp0rML)
Joseph Campbell's Power of Myth is far superior than Hero with 1000 Faces. 1000 is very good; Myth is legendary. Read both...you...the reader of this message...yes you...order it now!
Billions is based on Steve Cohen not on Ray, bad fake news question
It's like the 1930's except the USA has no manufacturing base and most of the adults in the USA are on antidepressants or antipsychotic drugs!
No manufacturing base!!! Most of America on drugs....I think you are exaggerating just a wee bit!
In Canada there is assets USA
Anyone else noticed how he dodged the cryptocurrency question?!?? makes me think his fund is either invested or looking to invest
Don’t think so. He’s just skipping it cause he’s not convinced of crypto’s. That would be my interpretation.
thank you sooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo much for sharing fucking love Dalio
Pride precedes a fall. Been there....... Done that!
collateral cycle by John Geanakoplos
Robert De Niro sure has put on the pounds.
21:40 !!! DEBT IS CREDIT. AND CREDIT IS BUYING POWER 11111!!!!
Amin Akhmadi 🧐
The Visuals investor