How did we miss this? The interview with Foreign Affairs took place in September.
Good stuff. Ray Dalio is one smart dude.
Here is what jumped out at us,
The age of big returns is over. Of asset classes, in general. That’s true of bonds, that’s true of stocks, for structural reasons. And that has to do that when interest rates go down, it causes stocks and bonds to go up. And when interest rates come down to zero there is not much more room for those assets to benefit from declining interest rates…. That is all over for a relatively long time.
Tell us it ain’t so, Ray Dalio!
The Fed has shot its wad. Better get your stock picker and trader hats on.
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Why is it that every time I listen to Ray Dalio, he seems to say nothing that is not just completely obvious, but says it in a way that makes everyone think he is saying something really intelligent.
He obviously has a lot of smart people working for/with him, and I am sure he “gets it” along with the frist people to “get it”, but he hardly is the only person thinking the way he does on any subject.
IMO: One of the most over-rated speakers on Macro issues on TV in recent times. Bill Gross comes in a close second.
Thanks for comment, Greg. He has a consistent framework and not swayed by market and emotional hype. That is what makes him successful, in our opinion.
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