Ray Dalio, founder and co-chief investment officer of Bridgewater Associates, L.P., discusses global economics.

This meeting is part of the Corporate Program’s CEO Speaker Series, which provides a forum for leading global CEOs to share their priorities and insights before a high-level audience of CFR members. The series aims to educate the CFR membership on the private sector’s important role in the policy debate by engaging the global business community’s top leadership.

Category: Video

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2 Responses to “A Conversation with Ray Dalio”

  1. VennData says:

    Hedge-fund Hugie Dalio tries to explain to Maria Bartiromo and Council of Foreign Relations – Council of Foreign Relations! – Q&Aers all about Asset Allocation. But they don’t want to listen.

    Maria asks repeatedly “What’s going to happen with Europe?” and they all want to know when their GLD will double etc… etc…

    Dalio tries in vain to explain how you need to pick an Asset Allocation, and stick to it, re-balancing back to your all-weather asset mix. But they want none of it. They want predictions.

    For all you who worry about “everybody indexing” this is a lesson. Even people attending the Council on Foreign Relations refuse to believe in Asset Allocation. They want to pick securities based on their guess of the future and that’s that.

    No one wants to believe the fact that you can’t predict the future, all you can do is have a diverse portfolio and re-balance, not ‘Buy and Hold,’ the straw man the Wall Street active-management marketers try to hold out, but “Buy and Re-balance.” Preferably once a year, but more often if your asset classes grow out of their size.

    Maria so wants the market rise to be “wrong,” She so wants it to be “Gov’t manipulation” and “Obama’s phony market growth” but alas, no one knows. At least Ray Dalio knows he doesn’t know, like other Asset Allocators, but there are millions of pigeons out there who will listen to soothsayers and prognosticators hoping to outperform by a few basis points, but fail and ending up under-performing… sound familiar?

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