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’
Marathon Partners Equity Management, the equity long/short hedge fund founded in 1997, added 8.03% in the second quarter of 2021. Q2 2021 hedge fund letters, conferences and more According to a copy of the hedge fund's second-quarter investor update, which ValueWalk has been able to review, the firm returned 3.24% net in April, 0.12% in Read More
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:
Dalio’s Rules of Investing
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.
Will Fed’s Sprint to Print Ease Economic Woes?
China’s Troubles Continue to Plague Investors
Ray Dalio, Bridgewater Associates founder, & CIO, discusses his concerns about China’s deteriorating economy, with CNBC’s Andrew Ross Sorkin. Also, Mohamed El-Erian, Pimco CEO, weighs in on the risks of investing in China. “When you buy exposure in China you are subjecting yourself to a very unlevel playing field,” he says.
this is the pursuitof perfection. china’s economy continues todeteriorate, d government efforts, hedge fund manager andchina bear jim chanos expressed his concerns yesterday calling it a classic emerging market roach motel. in my exclusive interview with ray dalio i asked him what he thought of what’s going on in china. years past in japan when it was going strong they called a recession anything less than 3% growth. in china anything less than 6% growth is a recession meaning italso has, it causes a lot of financial problems and it’s disruptive and it’s a problem. so i think that we are in that vicinity, something like that. the fact that they can have 6% growth and think that’s depressing and we can have 2% growth and think that’s good is a reflection of the difference in our competitiveness. let’s bring in our guest host, mohamed el erian, ceo and cio of pimco. chanos yesterday again called ibelieve it was the h class shares the roach motel of emerging markets where foreign money comes in and never gets back out. what is your take? there are a ton of this, we are closer to ray, our baseline is that china will slow to 6.5% to 7%. critical is not the cyclical issues. the government can deal with thecyclical issues. the critical issue is can china navigate the middle income transition. only five countries have navigated this middle income transition at high speed, it’s like an adolescent that happens, the transition happens at $5,000, $6,000 per gdp, per capita. the big question, can they do that?the political situation is complicating this. our gut feeling is yes, they’ll be able to but it’s going to be really bumpy and this is one of the big five risks that the market faces going forward. and nobody’s ever done it with that many people. nobody’s ever done it with that many people and nobody has done it when they influence the global economy so much. so this is really uncertain, really uncertain, and it’s always gdoo to remember that most countries, brazil, the indonesias, failed at that level.so this is an important stage in history. jim cramer is in your mind of thinking that you won’t see a slowdown in china but also with chanos, don’t buy any securities. both of them are correct in the sense that when you buy exposure in china, you are subjecting yourself to a very unlevel playing field, so youbetter know how you’re going to navigate that. eight months, nine months ago, i remember talking about it on this show that 6.5% in china was not consensus back then and it would be a hugely more negative worse situation, more of a drop-off in gdp than anyone was forecasting eight or nine months ago. so you’re saying we’re there and you look at the shanghai index. it’s there. so it was going to be 6.5, and it did, there’s a lot of bad –not just in shanghai. all of the emerging market indices priced in lower growth. 6.5 is priced in now? i think 6.5 to 7 is pricedin. what they’re not pricing in is beneficial impact of qe, they’repricing in the bad impact on qe for the rest of the world. can you project out further? if you were projecting this nine months what, is your new projection for the next year? we think they stabilize at 6.5 to 7. you think it stay there is? we think it stays there for awhile. we don’t think they get back to nine or ten for a number ofyears. if ever or — if ever is a strong statement. i think you’ve got to recognize if the base is getting bigger and bigger, and the underlying changes that have to happen are more complicated.it can be the new normal in china. the question that arises iscan the political system, based on the implicit contract of little democracy, can it take it. we’ll have more from pimco’s ceo and co-cio, mohamed el erian. still toment could, jobs and
Possible Downturn in US Economy: Ray Dalio
Discussing how too much monetization could trigger inflation, with Ray Dalio, Bridgewater Associates founder, & CIO. Also, Mohamed El-Erian, Pimco CEO, weighs in with his thoughts on the outlook on the U.S. economy.
What Worries Hedge Fund Titan Ray Dalio?
Raymond Dalio, Bridgewater Associates founder, & CIO, discusses his biggest concerns about the global economy, and why he thinks gold should be part of every investor’s portfolio, with CNBC’s Andrew Ross Sorkin.
hedge fund opens up to the media. andrat down with ray dalio and he asked about about his biggest worry about the global economy. i don’t know whether we’re beyond the point of being able to successfully manage this. orry about social disruption,about another leg down in the economies causing socialdisruptions. because deleveraging can be very painful until they’re managed. but when people get at each other’s throat, the rich and the poor and the left and the right and so on and you have a basic breakdown, that becomes very threatening. for example, hitler came to power in 1933 because of the social tension between the facts. so it’s go end on how the peoplework this through together. not surprisingly he’s also a big believer in gold. he here is what he said about owning the precious yellow metal. i think gshould 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 leads to printing of money to make it easier to service. so all of those things mean thatsome portion should be in gold. warren buffett won’t touch gold.okay. do you think he’s wrong? clearly you must. i think he’s making a big mistakah. gold is an alternative version of cash.so long term, it’s in the best investment. over long term, it’s a little bit better than cash. however when you’re having amonetary crisis, when you have a fiat monetary system and youhave the need for money, debt is a promise to deliver money. so if you look at each of those devaluations that have taken place, march 1933, president roosevelt closes the banks and then opens them and says you can get your money. and then they broke the link with gold. and so the history over that period of time is that money can be produced. gold is somewhat limited.it’s an alternative that should be part of everybody’s portfolio, but not in a big way.
Dalio on QE3 and US Dollar