Ray Dalio was on CNBC this morning discussing a wide variety of topics. Below are all seven videos of the interview, along with a brief description and computer generated transcript. Enjoy!
Dalio: ‘Gold’ is the New ‘Cash’
In an exclusive interview with CNBC’s Andrew Ross Sorkin, legendary hedge fund manager, Ray Dalio explains why he think the precious metal should be part of every investor’s portfolio. CNBC’s Jim Cramer weighs in.t:
andrew ross sorkin sat down with a rare interview with the world’s largest hedge fund manager. ray dalio. thanks, melissa. i did sit down with ray dalio. on goals, he is not necessarily bullish, but thinks about it as the ultimate insurance policy. take a listen. i think gold should be a part of everybody’s portfolio to some degree because it diversifies the portfolio. it is the alternative money. we have a situation now where when you have too much debt, too much debt let’s to the printing of money to make it easier to service. so all of those things mean that some portion should be in gold. warren buffett won’t touch gold. okay. yep. you think he’s wrong? clearly you must. i think he’s making a big mistake, yeah. gold is like cash. it’s an alternative version of cash. so all the long-term, it’s not the best investment. over long-term, it’s a little bit better than cash over long-term. ray dalio thinks there’s smooth sailing ahead for the most part when it comes to the market, but he believes there is this tail risk and it’s that tail risk that has to do with inflation and what’s going on in europe but has them thinking that you have to have a bit of your portfolio at minimum in gold, melissa. andrew, just quickly, did he say d-o-d, did i get quick ticket out of the country? dedz gold miners? no. people say own gold and guns. he says own gold. some people worry about the etf. he’s not arguing that you should be buying gold as an investment. he’s not arguing that gold is necessarily going up in price tomorrow. he’s saying, look, i think that there is some surge chance that there could be a problem ahead. he talked about flying from new york to l.a. and he says, for the most part, it’s going be smooth sailing but there could be a bump along the way. by the way, if there is a bump, ben bernanke and the rest of washington won’t have too many levers to pull any more and that’s when the gold comes into play. cie munger said gold is your — jewish families so into their garments, civilized people don’t buy gold. how he got away with that comment, i don’t know. and we showed the clip during squawk in the 6:00 hour. one of the things, and he painted a worse case scenario, he talked about the rise of hitler and he talked about in an absolute worst case scenario, that’s what he worries about the most. as long as they’re not filled with tungsten, i think that’s the key. note to self-drill into your gold bars, check them out. andrew, thanks very much. a lot mover squawk on the
Dalio’s Rules of Investing
Ray Dalio, Bridgewater Associates founder and CIO, explains why he doesn’t get “caught up in the moment” when making investment decisions. CNBC’s Jim Cramer weighs in.
the short version, those who forget histdoomed to i don’t — i think so many people overreact. they see things in a short-term way. they’re up against it. if it didn’t happen in your life before, then you’re not paying attention. but almost all important events never happened in your life before. so i made up for a lifetime, a monetary system breakdown. 1971, it never happened before. this thing didn’t happen before. so i think it’s — when i’m looking at it, i think these things sort of keep happening over and over again. and then i have this temporary plate and then i have these rules, if this happens, that happens probably because it’s all happened before. that was ray dalio talking about his investment pieces. let’s get down to the new york stock exchange. jim cramer joins us now. jim, you’ve been listening to a bit of this conversation. where are you on qe3? we haven’t talked about that lately. i think qe3 is an answer to the gridlock in washington. it’s an answer to the fact that investment is going to fall off dramatically if washington isn’t resolved and it forces money into the stock market. ray, this interview is fabulous. i think he’s the best. i also more hop in his interview than i thought. i’m going to take the other side. if he has a lost decade in europe, if he has the southern rim in charge, i say they’re not going to be competitive versus the united states, that’s major. we are taking control, again, of world innovation and world business. europe doesn’t sound important to me. jim, if bernanke gets fired and we talked about this around the table, as well, today, how does the market take that? bernanke is the savior of the market. bernanke and the media, bernanke caused the bottom, the generational bottom with a 60 minutes interview that said we’re not going to power any bank’s failure. ever since then, he has back stopped the u.s. economy, back stopped the banking system and i think he’s a voice of tremendous reason. he’s not a self-promoter. he’s a man of plain english. he wants to put people back to work. and if that’s bad, well, it’s not the american way. you want to put people back to work. i guess john taylor made the point that the more you try to put people back to work with some of this stuff, you more you keep high unemployment levels. he actually said that. i don’t know if you actually saw him say that. i’m meeting rosswell this g. there they’re saying, listen, because of washington, our business is going to turn down dramatically. i don’t know what’s the counter balancsequestration. what’s the counter balancing force? the only calibrating force i see is bernanke. i don’t know who is doing anything right in washington. jim, thank you very much. we will see you in just a few moments. great interview. great interview.
Hedge Fund Titan Reads Europe’s ‘Tea Leaves’
Legendary hedge fund manager, Ray Dalio, Bridgewater Associates founder and CIO, shares his predictions on the future of Europe and why he believes the euro zone is likely to stay together, with CNBC’s Andrew Ross Sorkin.
store opened 41 minutes ago, lines have been lined up for days. ray dalio made strong predictions on europe. hear what he had to say, take a listen. i think in the next couple of years i think that we’re going to have a depression in southern europe and it’s going to be a managed depression. there will be a combination of monetary policy,