Billionaire Ray Dalio Slams A New York Times Reporter

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Published 2023-11-30
On Day 3 of Fortune's Global Forum in Abu Dhabi, CEO Alan Murray sits down with Bridgewater Associates founder and legendary billionaire investor Ray Dalio to discuss sounding the alarm on the perilous state of American politics. Dalio admitted that he’s dreading a rerun of the fractious 2020 Trump-Biden election which scarred the country.

That deeply divisive contest for the White House, which resulted in a Biden win, eventually led to an insurrection on Jan. 6, 2021, where Trump engaged in a “multipart conspiracy” to overturn the lawful election results and failed to act to stop Republican supporters from attacking the Capitol.

Dalio has already called the 2024 election the most important one of our lifetimes, as Murray reminded him. Dalio responded that he was praying.

He also highlighted that his family office has three branches—in the U.S., in Singapore, and in Abu Dhabi—and as he told Murray: “In the world today there are bright spots.” These places “have a culture in which there’s excellent education for most people, in which there’s civility,” and in which the economy is thriving.

Finally, Dalio responds to Murray's question about The New York Times reporter Rob Copeland's new book called "The Fund," which paints a less-than-rosy picture of Dalio and his path to success at Bridgewater. Although it largely focuses on internal staffing and management disputes rather than Dalio’s decades-long record as one of the greats of the hedge fund world, he says the book is all just “fiction, created as fact” by a reporter with a vendetta and that it’s a black eye for all journalists.

00:00 - Staying In Abu Dhabi
01:35 - Five Forces Of Economic Historical Events
04:39 - Money Debt Economic Cycle
07:35 - Current Treasury Markets
10:11 - 2024 U.S. Election
13:44 - The Chinese Art Of War
15:25 - The U.S. Technology War
16:51 - AI's Significance In The Economy
18:55 - The Future Of The Economy Of Technology
20:09 - Ray's Response To Rob Copeland's New Book "The Fund"

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All Comments (21)
  • @eagleowl3664
    This is the reason why podcasts will slowly and completely kill the mainstream media. Podcasts have all the time in the world for the person to talk and explain all their points, unlike this format where they are constantly running out of time and their production manager "throttling" them!
  • @rdzhang
    This show host is the worst one I have ever seen. He keeps interrupting Ray's talking for a bunch of no sense. This is the top media in the US, fictional facts or fake news, which is really sad for everyone. Nowadays we can't trust medias at all.
  • @David-rg7gx
    Ray needs to get very specific about what is false in The Fund and prove it. So far, he sounds dodgy, talking about bias/motive of the author and the process but not addressing the allegations.
  • @Muller_Andr
    With the rally we saw in stocks November continue this December? Both speculative and defensive assets are also on the rise. If yes what assets, instruments might those be?
  • @tenningale
    They put the title at the end to lengthen their watch time lol
  • @rc3884
    Ray needs more time to answer these questions felt a bit rushed by questioner.
  • @DesmondMiles333
    Not only that journalist but man this interviewer as well was disrespectful to Mr Dalio.
  • @Windarti30
    Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
  • @wangjim5839
    These days, journalism is not about reporting the truth but rather what the journalist wanted you to know or perhaps what his boss insisted on how he should reported it!
  • @thelastbison2241
    In Singapore, that person would be bankrupt through the courts if it is found he is knowingly lying (for fame and profit). A weakness in the American system.
  • Our preoccupation with the economy potentially crashing might be excessive. In reality, the economy undergoes cycles and typically recovers. Personally, I'm more focused on growing my investment portfolio than getting caught up in predictions. I've come across stories of people achieving substantial profits despite economic downturns. Do you have any tips on how they manage to do that?
  • @ReflectionOcean
    - Understanding Abu Dhabi's growth as a Renaissance state (0:06) - The significance of income statements and balance sheets for countries (0:29) - The role of education and civility in economic development (0:37) - The impact of weather and productivity on a region's appeal (0:48) - Insights into debt creation and its historical context (2:10) - The rise of populism and internal conflicts affecting economies (2:38) - The dynamics of great power conflicts in shaping world order (3:21) - The importance of natural disasters and technology as economic forces (3:48) - The mechanics of the money debt economic cycle (5:04) - The influence of central banks on market dynamics (7:06) - The significance of the upcoming U.S. election and potential candidates (11:19) - The reduction of war risk in Asia and its economic implications (13:48) - The importance of technological advancement in investment strategies (17:16)
  • @lukeliem9216
    The magazine Fortune is exactly what Ray Dalio complained about at the end of the interview - journalism based on facts mixed with made-up fiction. That's why the interviewer (who is the CEO of Fortune) ended the interview rather quickly :-)
  • I don’t think Ray needs an audience. He’s happy to hear himself talk at length.
  • @brianbelgard5988
    Ray, you taped every conversation that happened in that building hit decades. If he’s lying, you have the proof.
  • @bagussriyono1085
    This guy is an egomaniac, wanting to leave legacy of praised, of worship. He threatened anyone through NDA and litigation to make sure no one criticized him. Man, at least have some reality check and pour some fact if you gonna lie, no one is perfect, tell people you are human too. Great marketer no doubt, relentless building his image of greatness in everyway he can. You think Copeland will have the gut to write the book and publish it knowing he will get sued with someone with literally unlimited legal backing without making sure to fact check it?. The fact remain, he succeed at convincing everyone, i see many who relentlessly back him even when you provide something that goes against his teaching.
  • I like how this guy is quite wealthy, however his suit looks worse than my dad's.
  • This felt like a rushed interview. The interviewer is inexperienced and cuts in.