Ray Dalio on The David Rubenstein Show

Oct.31 -- Bridgewater Associates Co-Chairman and Co-Chief Investment Officer Ray Dalio talks about what he looks for in an employee, how he's preparing for a possible recession and whether or not he'd ever take a job in government. He appears on "The David Rubenstein Show: Peer-to-Peer Conversations." The show was recorded on Sept. 5 in New York.
#raydalio #philanthropy #peertopeerBloomberg

[@Mahalakshmi-Khan]

Who else is addicted to Mr. Davids interviews?

[@petekdemircioglu]

Im addicted to Ray’s interviews

[@lol-rw7yd]

Dumb communists should not watch Mr rubenstein interview 😁😁

[@AGRuwan]

me

[@chrisborgman9155]

I love how he immediately drives the discussion. He is so transparent with trying to explain the building blocks of how things really work

[@randomdude7384]

This guy is a brilliant mind, he's got a rare gift, he's able to put complex ideas in simple words and explain things in an accessible yet comprehensive way. I admire him greatly.

[@kirilmihaylov1934]

He is very smart

[@FrostyFlameTV]

He is living proof of one of the main principles in his book: “Nothing is sexier than being really smart”

[@petekdemircioglu]

Exactly

[@petekdemircioglu]

Didnt know that was a Principle in his book

[@rikweeda5844]

Ray and his firm are one of the most important when it comes to understanding economics

[@GlebWritesCode]

@Kathy Greens can you share a link?

[@kushalsp1994]

David Rubenstein should do an interview with Charlie Munger, Charles Koch, James Simons, Carl Icahn...

[@wallopwallop9125]

Kushal S P he should, but getting Charlie munger on would be next to impossible!

[@prav077]

Wallop Wallop why?

[@dagmawiworkayehu1893]

@@prav077 he is not a talker

[@vanshkhanuja8611]

Charles koch video uploaded today

[@jawediqubal7557]

Mr Dalio possess a detached persona despite being his great success and achievements which is rare. He comes as a naturally engaging and insightful speaker.

[@davyroger3773]

Meditation

[@jawediqubal7557]

Well, when Mr. Dalio admits that he likes to understand Macro Economics and the world because he loves his game, or financial success is an inadvertent thing for him that came largely because if he played the game well and he got the money, or value of painful mistakes and learning and reflecting on them, the importance of meaningful work and meaningful relationships, this simply reflects humility, challenges, self-discipline and strive for learning in his life. Merit is best sought in simple and honest words rather than in catchy and fancy phrases. Simplicity has unparalleled value and utility which is easy to emulate and practice in one's life. This is what signifies the words of Mr. Dalio in the interview which is universal in meaning and makes him an extraordinary person in true sense given the fact that he gives an impression of a normal speaker.

[@AS-qj6zf]

He realized that he had too much pride during the 1982 downturn... I appreciate that he learns from those experiences and readjusts without giving up.

[@petekdemircioglu]

Very educative experiences. I had one in 2017.

[@robg8743]

Even with all his success. As humble as ever.

[@dolganthecute]

He didn't like being asked about Harvard :)

[@theciakilledjfk5973]

I'm a Bernie Sanders supporter and this guy doesn't set off my b******* detector.

[@socrates_the_great6209]

And full of lies. They know when the new depression comes. They are the onces who make big bucks every time!

[@jakubdekys4799]

dubstep1994 nobody knows they just well prepared for that

[@fretkoe]

dubstep1994 If he would know when a recession will happen, he would be (by far) the richest person on earth

[@duudleDreamz]

Ray rocks! Respect for his humble appearance and thoughtful insights.

[@samson7451]

nobody: Rubenstein: "are you from a wealthy family ?"

[@Ben1829epek]

WOW...Ray Dalio....I've been continuously watched both of this men separately, but now they are on the same frame....Good job Bloomberg and David Rubenstein...

[@sureshnishtala2887]

Am jsut addicted to David's Shows and I want more of it

[@ALPHADOG1900]

You gotta love how Ray mentioned meaningful work and relationships is more important to him than financial success

[@harrythornton7217]

I've read his Principles book and it is simply a life changer and has helped me deal with failings very recently too as it allowed me to remain calm and objective and to not let emotion take over what I do. I also highly recommend his book it's a terrific read

[@theklimek6575]

Sir Rubenstein is one of the best or even the best interviewer I have ever seen. Pure professionalism.

[@axem.8338]

Finally thanks Bloomberg and David for taking this dream interview.

[@axem.8338]

@michael jordan Well I can understand why you are saying it but it's a little peak into the life of Ray. I'll suggest you read his book Principles, he has spoken broadly about his journey in it.

[@axem.8338]

@michael jordan I have recently started it as financial crisis is my domain, I'm loving it.

[@Addicus_brown]

I love Ray so much.

[@dalliboyrt9927]

@Kathy Greens hater alert. Good for nothing human spotted.

[@hwb929299]

​@Kathy Greens If you think that is terrifying. You should hate American most.

[@rebellucy5610]

He seems like a straight shooter, but sometimes I see contradictions in what he talks about. For example the 'wealthgap' he often addresses. He never touches on how Central bank policies benifit the rich while disregarding the inflation those same policies end up hurting the average person who actually buys their own groceries. Few of the wealthy hedge fund guys ever criticize the FED. I find that interesting. I believe he has said he is for raising taxes on the wealthy in public, but in private Bridgewater has aggressively tried to avoid taxes or get tax breaks for staying in Connecticut. I will definitely say he is more honorable than anyone from Goldman Sachs.

[@svengalilord]

@@rebellucy5610 I don't see a contradiction. Ray recommends that the rules of the game be changed regarding taxes. However, until that happens, he will play the existing rules the best he can to his advantage. Nothing wrong with that.

[@rebellucy5610]

@@svengalilord That seems like a lame excuse. That is like saying you really do NOT want to cheat on your spouse but WILL do so UNTIL she/he finds out and says something. At that point you will no longer cheat because that is what you wanted all along.

[@MrBrainy33]

His Priciples changed my Life and now I am close to living my dream. This man should be honored in the highest possible way´s. Thank you vor all shared with us.

[@kirilmihaylov1934]

He is very smart

[@Tlhakxza]

Is that his book???

[@RashidKapadia]

Splendid interview. Good to note that meditation is increasingly becoming a "new normal". All people, and the whole world, can benefit from more equanimity and calmness. Mr. Ray Dalio provides proof. David Rubenstein is a very good interviewer. Top notch guests. Thanks for posting.

[@marxenbrothers]

One of the best interviews with Ray Dalio. For me, the most valuable part is about his perspective on the Latin America credit bubble and how he was right and still lost money! Moreover, the learning he made upon this failure!

[@AdamSmith-qh8tj]

Ray is really an intelligent and unique guy. I love listening to him

[@praneshumashankar8319]

Finally !!!!!!!!!!! Thanks Bloomberg, you guys are kicking ass !!

[@Jbucks24]

Best talkshow host. EVER

[@happyicare5053]

I agree with him at college you can pick the subjects you lijr

[@M3nPower]

Ray you are an amazing mentor. Your book principles is amazing. Run for president

[@pppinto97]

The world would be a different place if every company can adapt the work culture as his.

[@tomduan2941]

Definitely be a worse place though, I would say only a small minority of people can handle that environment. Needless to say, not every company can enforce that sort of intrinsic motivation in areas such as retail, call centre, etc

[@warbylpunkrock4804]

It's tight that Dalio posted a video of open mentorship relationship with P. Diddy and his Economic Business cycle video from the perspective of banking and monetary policy should be required watching.

[@marriagepartnersministry5942]

At Bridgewater they are free and encouraged to express dissenting points of view. They discuss and recognize each others weaknesses and short comings. All of this is in pursuit of the best quality decision making possible. I think anyone wanting to get married ought to get good at this prior to getting married.

[@RandomPerson-us5yl]

There could not be a better combination.

[@ThePorschefan]

Finally!

[@Rossini737]

Please do one with Stan Druckenmiller.

[@BAdventures]

Good interview 👍

[@happyicare5053]

Thanks a million Ray

[@kevinkang4427]

I love David Rubenstein and the tug of war he plays with his guests. Makes it interesting to watch

[@aminhusseiny6312]

Finally these two fine gents sat down..

[@apga1998]

While I don't find Ray to be a charismatic personality or a gifted speaker, I do like his story. In many ways, it repeats the sequence of events many successful people find in America. Here is a guy from an ordinary family, who doesn't apply himself in high school but is accepted by a third tier college(on probation!) He clearly has intellectual aptitude. He applies himself at college and has the opportunity to go to Harvard Business School! That's quite a leap up! He goes out and gets himself a job and his boss makes him the head of the commodities trading desk, this with little experience . But his boss saw something in Ray and gave him a chance. (America is still a meritocracy) He gets hired and fired and eventually decides to go out on his own. With little money! Ray is a gambler.. and he likes to make very big bets because he believes his perception and judgement are spot on. He is not excited by creating or building things or providing ordinary services. He just likes the money game and loves to win! (Very similar to Warren Buffet) But he also invests other people's money and so plays an important and useful role in a capitalist system. He has learned that you can be 100% certain you are right...and yet be mistaken. This was a valuble lesson (Pride goes before the fall!) that he shared with us. (He leaves unspoken but implied.....Folly diminishes achievement) He set up a system(people and computers) at his firm to increase the chances that his big bets will prove correct. And it has helped him recover from his unsuccessful bets and go on to great financial success. Long life and happiness, Ray!

[@ravindertalwar553]

GREETINGS AND BEST WISHES 💞 FROM RAVINDER TALWAR JALANDHAR CITY PUNJAB INDIA.

[@fumpgarest56]

Everyone's principle could be written down as algorithms so computer was making decisions in parallel with me making decisions. And that type of partnership with algorithms was invaluable not only in the quality of the decision -making but also invaluable in relationship that I hhad with the people I worked with.

[@shanr2343]

I love to here Ray D all the TIMES

[@DejeRobi]

Ray is like Paul the apostle for wall street.

[@carlosgarcia-if2ou]

How

[@GreekOrthodox7]

Deje Robi comparison makes no sense

[@ravindertalwar553]

NO TEARS NO FEARS ONLY CHEERS AND CHEERS FOR ALL NEARS AND DEARS.

[@mkg1253]

crazy watching this during coronavirus...

[@orcetrpeski6914]

Bravo majstore. Odlicno.

[@Songa-ge7ij]

When manufacturing was relocated to China it was transfer of technology to East and it changed everything including our lives. And here we are now😊

[@toveychow3635]

It’s inevitable. Doesn’t matter if u relocated or not. That’s just an excuse.

[@kiwoongpk91]

Please take care of your self Mr. Dalio, the world needs you for as long as we can keep you...

[@wyc2235]

very insightful

[@StasKubrak]

He is the best!

[@Vahe345]

"If you play the game well you get the money"

[@eac26114653]

Damn. The guy (Ray Dalio) seems down to earth and "knows himself". It's interesting that he says that the important things are meaningful work and meaningful relationships. And that the money that came was a pleasant inadvertent thing that came because he liked his work or "game". I heard the same thing said by another billionaire investor, Jim Rogers. So the money is a byproduct of doing interesting or "fun" work that happened to pay well. It's also good that the interviewer, David Rubenstein, is also a billionaire. (I googled net worth for both men.) He sits up there as an equal and can ask questions like an equal. The dynamic is different then if it is a financial news journalist interviewing a billionaire. Good interview. I think I will watch more of Mr. Rubeinstein's interviews. Thanks.

[@LuxusHauserGroup]

Best part is at 22:38 Q. What do you most enjoy? A. The financial success is an inadvertent thing that came largely because I play a game.

[@nbme-answers]

1:15 interview start

[@idk_bud]

21:50 .... The most important part of the interview folks

[@bobsmith2886]

Dalio had said the 10 year would would rise after it hit 3.25% and the bond bull market would be over in 2017. He also has been long EM and underweight the S&P for the last couple years and this has been a losing trade. I like Ray but all the smart money has been wrong in this cycle and I believe it's because of the Fed and central bankers messing up our markets.

[@1life857]

He hasn't been wrong yet, because the market hasn't correct just yet.

[@jagatdave]

Dalio's company do not invest only based in his ray dalio views

[@Sill1992]

Get the bloody audio correct, bunch of amateurs there, grrrr

[@hh-wd6wq]

您要保重，全人类需要您。

[@nohopeequalsnofear3242]

The microphone on dalia has background noise on it. Around 4:00

[@leicestercook]

Crux

[@happyicare5053]

Muy bueno Ray, really

[@vcp93]

Is this an old interview? These are the same questions about the "origin story" of Super Dalio that he's been talking about for the past several years. Is there nothing new to talk about?

[@5rand0n7]

The description says it was recorded on Sept. 5th.

[@josealves1097]

I feel the same way. I was eager to know his opinions on whats going on, not hear that he borrowed 4k from his dad for the 10th time

[@josealves1097]

​@The FED Smart Money Even if I was the most knowledgeable person in the world about economics I'd still like to hear Ray's opinions and compare them to mine.

[@fumpgarest56]

new grads: value, ability & skills. Most company look at the skills, while value is about what are their motivations, missions; abilities is the way of thinking, sb big-picures. character no1 to be on the mission. skill like programming etc. is quite required yet least important.

[@RuskiArtem]

Ray is one of the best people in the world.

[@socrates_the_great6209]

Worst*** He is one of the capitalists running the circus. Taking from the poor and giving to the rich every depression.

[@RuskiArtem]

dubstep1994 unlike many wealthy people Dalio doesn’t get into politics or “buy” power. He just plays the markets, yes the markets are built with a huge favor towards people with lots of money, but he didn’t write the rules, he just follows them. He’s not ripping anyone off or asking for government money, and the last few years he’s been putting out more FREE financial education content than most schools or colleges teach their students. I’d really consider rethinking the notion that all Rich/Finance people are “bad”, yes absolutely terrible ones exist but it’s not all of them.

[@linfan619]

Ray, in the Principle in action, your research head mentioned you sensed there might be a problem in bond market in 2006. Checking all kinds of balance sheets seemed like a way you utilized or a strategy you came up with to check and confirm the problem. You mentioned in the video this way of uncovering problems may not be as effective as it was in 2007 when the situation changes. That kind of sensing or instinct or talent or experience of markets might be more important than which method you choose to approach potential problems. And also, because you have a good group of people, or the beautiful and effective machine you build out, you got your idea implemented well. BTW, you mentioned the mistake you made in 1982 many times, I never understand that...😂

[@psalm9166]

You nailed it 1982 is the stumbling stone that changed everything. Someday everyone will know it was the beginning of the end. Everything after that is an illusion.

[@MetalBum]

Need more ray dalio. So are people following his all weather fund now? I was thinking of doing an all weather long term fund for majority of my wealth 50% bonds 30% stocks 20% gold silver. Hold until a major down turn. Then rebalance with more stocks later

[@Liverpoolaussie21]

well he was spot on

[@doubleaa658]

Ray is saying The amount of debt and obligations by us governments like pensions and health care . Unfounded state and union pensions are falling and they usually ask governments to help Debt is at record high!! car debt , student loans , real estate , luxury real estate , personal debt What is saying the fed was able to avoid 2007 crisis by lowering interest rates and loan cheap money . They were able to stimulate the economy ,but this time it’s too late we are already in a recession . the feds are lowering interest rate just to inflated the problem further . But they can’t lower it enough to avoid the problem . they have one option which is to run the printing machine on 24 hours . Unless the government decides to have a reasonable budget without deficit 🙊

[@ThePorschefan]

Mmm nope, he's saying that all of those public liabilities are unfunded and the U.S. will have to monetize the debt through the printing of money in the form of bonds, usually when you run large deficits and monetize them through bonds, your currency depreciates but with the U.S. that hasn't happened because oil is sold in dollars, SWIFT is the only international banking system and investors around the world invest their wealth in the U.S. which causes demand for the dollar and allows the U.S. to run large deficits and keep a stable currency as opposed to Japan who's currency has depreciated a lot. But the limit is going to be reached and the currency will start to depreciate and for the biggest importer of the world, that could be harmful. But it has nothing to do with 2008 or the central bank in my view. And no, we are not in a recession

[@zonatoh9222]

These two were born 3 days apart, 70 years ago. O.O

[@jasondou5596]

wow. Charming Italian American

[@khersheonteoh5697]

Ray Dalio Noble Prize in Economics

[@udaykirankamsala1559]

for the prerequisites to be a part of Bridgewater, Ray has 3 dimensions to looks at a person but apparently, he doesn't take all the interviews. An HR would have different criteria to take a person in.

[@thecitizenjoan]

Dont like most Billionaires but I love Ray.

[@investireocaminho33]

both are genius

[@robertwnorrisii9143]

Special Drawing Rights (SDRs)~ IMF

[@BdDaBOMB]

Robert W Norris II Wait. Please explain some more

[@robertwnorrisii9143]

@@BdDaBOMB Funding sources for World beneficial projects.

[@user-ru2jl4lz9v]

It has this.There is an email account There is an email account Oh, it's a email account

[@MegaPapa8888]

When financial heavy weights become the center of attention, our national focus will be on making money. Our production & manufacturing will be the history of the past. And we blame China or India selling cheap products to us.

[@AnyFactor]

12:17 Laughed out loud

[@ShroomCorp]

Thanks daddy Dalio, very cool!

[@antediluvianclockwork9769]

David Rubenstein needs that KZbin ad revenue? Lol.

[@mosesezean820]

Uncle Dalio!!!

[@Sham1r0]

Is he talking about a MT4/MT5 algorithm?

[@adigullia]

22:35

[@Mister.Unknown]

I always linked Dalio with Musk in a weird way. Every time Musk talks, it seems as if he talked too much, the fabric of reality would collapse. Every time Dalio talks, it's as if doing it too much would cause the financial system to collapse.

[@happyicare5053]

you like

[@MeColinYouWho]

The more they print, the more we owe them. The more they waste the more we owe then. The more they spend the more we owe them. The more they give to their banker friends the more we owe them. You owe them, your kids owe them, your grandchildren owe them, your great grandchildren owe them, your great great grandchildren owe them. The top banker boys are extremely happy. World political leaders will walk away and write their memoirs and get a few million dollars for saying how well they did and how hard they tried. Happy day's.

[@langa1533]

Please tell me I am not the only one who doesn't understand a thing Ray says. I read his books but still

[@tsukisos]

What do you not understand?

[@langa1533]

@@tsukisos See Warren's value investing concept I can follow but Ray Day's, completely fail to follow. How can one learn just any of his ways of investing, besides it being said it's computer algorithm?

[@sumerbabylon7069]

10k Gold soon then get ready for a world currency.

[@mingazzini]

Keep dreaming Hammurabi

[@sumerbabylon7069]

The dream is to end the concept of money create global peace and go full communist but this will only happen by around 2500 so until then its gonna be shit life for all.... I predicted 10k bitcoin so yeah that didnt happen...I believe 10k gold will happen soon

[@crystalyeowchingching1036]

$9.1 的蛋糕，我必须最少赚 $3 千块才吃得起 ！！！

[@petekdemircioglu]

💖💖💖👑👑👑

[@user-dz8ye8zp7u]

สวัสดีครับ goodafternoon

[@desoxx]

I clicked on this because I heard somewhere that we are heading for the worst recession in human history, and Ray wanted to talk about that, but David asked lots of petty questions not having to do what would be the greatest concern for everyone. What do all these others things matter if all is about to collapse? Ray could not go into detail about any point, David just kept rattling questions. I don't like his style of interviewing.

[@Dan7751]

Corporate debt, sovereign? Come on Ray, throw us a carrot.

[@gregoireancellin8768]

Well, he talks about Healthcare and other spendings...

[@wm6549]

He never has any actionable ideas during his interview.

[@user-ru2jl4lz9v]

โนๆๆๆๆๆแท๊กคําแบ๊กโอนๆๆๆๆๆโนสตอบโนสปิกมีโนแฮ็บมันนี้มีโกแบ้งเชิญเลดี้สตบนาวคุณโนสตอบสปิกไอโนแฮบโอนวันบามีโนแฮบ

[@happyicare5053]

El que ha puesto hoy ,pues que venga

[@abhinabaghose3380]

Please invite Ratan Tata

[@kbshrivastav8539]

David is not interested in people who run callcentres

[@Rajesh_Singh301]

What will Ratan Bye Bye have to say about financial matters. He bought the Jaguar company and lost billions of dollars on it.

[@elidel3299]

I will finally be the 2nd ray dalio

[@cpotisch]

GHASIRAM B TUDU What does that mean?

[@Addicus_brown]

I believe Bridgewater is currently net short and betting on economic difficulties.

[@nparbat8182]

that's just a random youtube comment. nobody cares what you thinking.

[@Addicus_brown]

n parbat okay I wasn’t saying like “that’s my belief” I just meant that Bridgewater most likely bet short.

[@josealves1097]

Hey, what makes you believe that?

[@Addicus_brown]

José Alves because in the months the markets have been up Bridgewater has been down and vice versa.

[@AdamSmith-qh8tj]

the music is annoying

[@user-dz8ye8zp7u]

สวัสดีครับ

[@nicklekkas38]

the guy who owns 0,5% of spy talking about reccession and at the same time he added to long positions at 30/9/2019 lol

[@user-ru2jl4lz9v]

No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no.

[@jasongood5499]

When Ray Dalio says there will be a squeeze this means stagflation economy like Venezuela's economy: high inflation, low growth. Florida is the process of becoming Venezuela right now since over 2 million Venezuelans have already arrived.

[@josealves1097]

Damn what a waste. Couldn't you write different questions from other interviews? This guy has a wealth of knowledge about the markets and you wasted the time talking about the same old stuff. You should be ashamed of yourself. And to redeem yourself you should get Ray back on and ask meaningful questions like: what do you think about Trumps policies, how do you see the markets evolving in the next years, what is bridgwater doing to for the future... interesting stuff. And don't fix your tie, I almost dint recognise you with that neat tie.

[@uawsux]

I imagine ray dalio.. his firm give the hosts the questions to ask

[@adamlofquist]

Here is an idea, instead of telling everyone else what they should do. Why not work, create your own show and then work some more and get Ray on for an interview? Oh that would require you to stop complaining on the internet...

[@josealves1097]

​@@adamlofquist That's a terrible idea. And you should stop complaining about my comment.