The Changing World Order & the Power of Diversification - ft. Ray Dalio | Prof G Markets

[@NichoD3]

You guys need to do more Fundrise ads.....like 3 more at least

[@FighterFlash]

Motley Fool is better

[@shonanscotto]

​@@relentless-iocan you expand on that, please? Non-Americam here so I don't have an accurate view of them. Many thanks for your time, my fellow netizen.

[@bibbidi_bobbidi_bacons]

Fuck ads

[@brianmastriano4432]

the fund rise ads sometimes directly contradicts the words of scott. He will preach against robinhood gambling and stupid retail then promote a kevin o’leary type of investing scheme

[@todorkolev7565]

@@brianmastriano4432 in his defence, you can see that he's putting 0% extra sauce on that ad delivery :D

[@TheCharlesfm]

What a relief to see You're not self censoring anymore! thank you !

[@MarcioSouza1]

We're back with the solid intros!

[@alexjoh13]

The humor in this show is more important than the news. Love it

[@metamoonnn]

Prof. G Corp 100% doesn’t have an HR dept

[@marcialabrahantes3369]

he's his own monopoly. that won't be fun

[@lokipokey]

😂

[@GenZ99-p7u]

That's a good thing, right?

[@stevemolloy2747]

Ray is great at saying vague explanations.

[@warrenb2856]

In long form... brilliant guy though

[@teddyarcher3957]

@@meta4kl237 he is no longer really running it, probably just dials in to advise once in a while, also look at his decades long performance, would take that as a benchmark over the last few years....

[@stevemolloy2747]

@@warrenb2856 gold and a diversified portfolio was the main takeaway.

[@kapdolkim1914]

I listen to him all the time but still am clueless as to what he is saying.

[@stevemolloy2747]

@@kapdolkim1914 diversified index explanation.

[@chicagofineart9546]

I really do appreciate how Dalio ends this interview, on an optimistic note, with timeless truths that have stood the test of time. His values indicate to me he has a heart and who knows, could become a real philanthropist and regret his sins on his death bed.

[@rejoicejones]

Love love love Ray. His book Principles was like a daily guide for me as I built my company. It still is . Thanks Scott

[@tomkk1000]

Prof G and Ray Dalio ... two of the top dozen or so of my favorite current thinkers.

[@autohelix]

After reading the book "The Fund". I am not going to take anything Ray says seriously. If you have not read the book you should.

[@daniellees7873]

100%

[@Nicole-yy1kn]

Yeah

[@oisinquinn9469]

Agreed. Growing up is realising dalio is full of bs

[@angelchavezac22]

Yup!!!! Read Rob Copeland’s book and loved it. Listened to this whole podcast smacking my lips lol.

[@kevdaag2523]

So the book is garbage but you recommend I should read it? Why?

[@brandon_youtube]

I always enjoy Ray Dalio's macro and historical view as well as underlining the importance of values, learning and collaboration. However, he's outlining of the coming debt tsunami causing massive disruption, and sharing gold and having cash (which he once called trash) as solutions leaves me cold. Historically cash has been devalued at an alarming rate due to debt monetisation. And gold historically rarely beats devaluation. Or maybe gold is the saviour...

[@Sweet..letssurf]

I never cared for the guy And assume He missed this run N needs this to reposition

[@kevdaag2523]

I agree. For decades, any guy suggesting Gold ended up being a nutcase crank. I think the only hedge against an inflationary economic downturn is a stream of income, right?

[@DataSpook]

Super effin informative. Great no nonsense interview. Keep em coming.

[@shaangandhi2862]

Thank you Prof G and Crew. You make amazing content.

[@Yourmission9]

I had two stocks that did a reverse split, astraspace and licycle, both looked good a couple years ago, I hodl’d and lost. Live and let learn, now I just do S&P 500

[@ryu_street_fighter561]

Lots of hate on here for Dalio, not sure why. He knows his stuff, and more. People would be wise to listen to him, especially his views on China.

[@GregCurtin45]

Thank yhou Mr. Dalio for your time and advice. #TimeWellSpent

[@mikert89]

Ray Dalio has been deadwrong on the China thing

[@mikert89]

@@meta4kl237 Yeah its a big financial grift, where bridgewater has convinced pension funds of their superiority.

[@kh-fk3ko]

Ray has been blowing the doom gloom for 10 years and for five years I was a fool enough to believe him

[@11thHourRecords]

Easily done, thanks to the myriad of online misery megaphones.

[@carrieannadalio7239]

stay a fool please

[@ryu_street_fighter561]

He is right, and has made a lot of money. If you stuck with his all weather portfolio that he advises for average people you would’ve done well.

[@kh-fk3ko]

@@ryu_street_fighter561 thats not what the says.

[@petelipson3769]

It is easy to play arm chair quarterback and take shots at the guy on top of the mountain (Dalio)

[@allenng2348]

"The number 1 thing is how we deal with each other"--welp, we're boned.

[@brentmunro5026]

Good interview thanks guys!!! My conclusion, buy Bitcoin!

[@benedikts9509]

Can someone provide the source or article about what young voters care about?

[@emanuels4961]

SAVAGE 😂 I will sadly-happily remember this one. Thank you.

[@rd24life]

At least Ray is honest about his generation and how horrific they have been to the youth

[@LIV-FREE-VET]

Always love your analysis and content Prof G

[@Rojosi]

The expiry of the Petrodollar agreement is clear case of deglobalisation and Dalio’s thesis. Sobering to listen to a number of credible economic commentators on the implications of mBridge and BRICS momentum away from the USD. I’m very disheartened and worried that we will be in a new world run by autocracies 😞

[@omarkk007]

Legendary! Respect 🫡 Prof G and Ray Dalio

[@omarkk007]

@@meta4kl237 First and foremost educational value, despite recent underperformance of Bridgewater Associates compared to S&P 500, Bridgewater has long history of strong returns. Taking into consideration all the other factors this content provides broader perspective on investing!

[@PeterCarr.H]

Ray Dalio !!!

[@DataSpook]

I do find it curious how wealthy individuals blame government, religion, natural disasters, pandemics, war, etc etc… it’s never an issue about greed. Still a good interview.

[@chicagofineart9546]

I agree. These guys got onto the ground floor of China by buying their way in. They got privileged positioning to exploit the labor differential, made their fortune and then blamed Americans for loosing their jobs and manufacturing to China! Further, they offshore the profits so they get to pay the very minimum of tax, if any at all. Because they are private companies and aren't publicly traded they have almost no government oversight. Nice work if you can get it!

[@AeroFitz1987]

I love how Ray starts off by responding to Ed, « thank you, Pat ». You can see Ed wants to correct Ray, but just continues with his intro like it never happened 😂

[@crackerbarreIkid55]

He said thank you for having me

[@MattDelovino]

That opening was wild 😂

[@louiseobrien2010]

When a country's government spends more on servicing its debt than on defence they are finished. If world players significantly reduce the use of U.S. dollars, the U.S.'s ability to issue dollar debt and earn dollars for exports will diminish and the nation's economy will shrink. If other nations no longer need dollars to conduct trade, the demand for dollars could plunge significantly. That would create a dollar glut and a rapid devaluation of the greenback. Interest rates on US Treasury bonds would soar. This would be an untenable situation for a government servicing more than $34.5 trillion in debt

[@alexmacgregor]

Not a bad guest this week!

[@Shaqir]

Let's go! 2 mins in! Ray Dalio!

[@ehlava]

you got the social media call with kids totally right.

[@jackv.527]

Dalio's "big bet" is gold? Give me a break. He's worthless. Prof G...please stop giving this guy airtime. A obvious bet would have been to say biomedical or anything health related as breakthroughs would change the market (think cancer cure or cure for male pattern baldness). 🙄

[@todorkolev7565]

I am not a fan of crypto-currency (even though I work for Cardano) but Mr. Dalio has no idea how crypto works. The government can NOT shut it down.

[@orgonomymatters9807]

Over the last 3 years Bridgewater Associates' returns have been LESS than the S&P 500. So why does Prof G bring on his show a guest whose advice will make you less than an S&P 500 ETF? And why doesn"t Galloway challenge Dalio. Galloway likes to TRUMP how he worships money, but if we follow his advice, we would lose money betting on Dalio

[@oisinquinn9469]

Growing up is realising Dalio is full of BS. What’s his IRR over the last 5 years with these godly insights?

[@pathologicaldoubt]

Appreciate Scott’s thoughtful questions to Ray here

[@ZZZZ-mkv]

Ray's body language says he is not telling the whole truth.

[@yamuiemata]

Honestly Ray is a T-Rex in the Industry...I don't know why should we take his advice seriously especially after 2020 advice saying cash is trash while he shorted the S&P because he knew COVID will lockdown everything. Also he tried by all means possible to get the book "The Fund" censored 🤡🤦

[@richandunreachable]

Thank you for getting Ray on the show…

[@-Gramps]

Ed & Scott- the value of your show, to viewers such as me, has improved significantly. You obviously have a top notch team, gathered to produce an outstanding product! They deserved to trip to St Barts! Having been a corporate CEO myself, there is nothing quite as rewarding as knowing you have hired a diverse group of people that together, develop something useful, meaningful, & professional- Scott’s humor being the obvious exception. 😮

[@TUBEDOUT07]

Bitcoin!

[@warrenb2856]

You know you are early when Ray Dalio has a small position.

[@bingoSK9]

I don't imagine a collapse will happen at the next economic downturn of in 4-5 years. The next economic downturn will definitely catalyze it. But it will take years, probably decades after it. I imagine it would be a major war that does the job, which would be the result of all the suffering of the major economic downturn.

[@MichaelLaFrance1]

I've been reading Ray Dalio's books for years. He's smart, insightful, and (of course) talented, and also an extraordinarily gifted communicator. I see a deep dive into Dalio's interviews in my very near future.

[@Moe-yv1yi]

Extraordinary gifted communicator 😅, u must be extraordinary insecure

[@wuldntuliktonoptb6861]

Mad money invest in commercial real estate blowing up. Also oil and silver being repriced WAY higher.

[@OtakuTiki]

I don't think I learned a single thing from ray. That was such a grey conversation..milk toast. Idk

[@jminter]

There is no better quintessential boomer than this man, constantly bragging about money and yield no matter how much he got, often grumpy and sullen but wants to be liked by the young when speaks about financial unjustice

[@kyleredfearn96]

He got really squirmy when asked about Bitcoin. He obviously not very educated on the subject

[@montpelier28]

ty agree with below person

[@amdave76]

Chamath made hundreds of millions on Virgin Galatic dumping the shares on the public market.

[@Sweet..letssurf]

Riddle me this…Batmam

[@GeoffKimo]

Why did Ray call Ed "Pat" at his introduction??

[@johnstark1474]

China's local government debt to GDP is nearing 300%

[@SvetaHan-t3y]

Жду новое интервью даллио что творится будет с прогнозами

[@winterclimber7520]

Age gate for social media at 16: agree Only S-tier social media platform: KZbin Age gate for youtube at 16: ???

[@bentan4375]

Loving the new intro theme used during the headlines.

[@soysauceboy2023]

Dalio, best investor in history? 🤔

[@rechutriers5592]

Voting for a president won’t fix this problem

[@bbmatfreddy]

Weirdest ever interview with Dalio I have ever listened to. He keeps rambling and jumps all over the place. Is he suffering from dementia? He was asked a very simple question about financial and investment advice to a 25 year old educated and all he could offer is "there are taxes, then understand diversification, and put some money into savings for future large ticket item expenses and put some money into speculative assets, and then there are taxes". WHAT? nobody expects any specific names as investment but what he said every child already knows. Then his doom and gloom was disproven many times over the past 15 years. And he seems to completely live in his elitist bubble, not understanding the lack of any credible opportunities even for the highly educated young adults in technology. The world in the West is dominated by 4 or 5 mega conglomerates in every sector and industry. Any opportunities elsewhere is arbitraged away, stolen, or prevented by various players. What can someone invest in today? Most promising startups are only open to vulture VC. When a company goes public it's basically asking the dummies in society to be the bag holders for those who are ready to cash in. Not talking about the past but today. There are incredibly few opportunities for young adults today, less than ever before in the past 20 years. And I say that as a Carnegie Mellon educated with 2 master's degrees, 23 years as front desk bank and hedge fund trader who is now retired. I have empathy for those who are young adults now, despite a lot of things being better than ever before thanks to innovation the picture today into the future for young adults looks incredibly bleak imo, worse than ever before in the past 3 decades. For such an experienced and successful asset manager his advice was incredibly disappointing and lacked any rigor and was a poor reflection of his wisdom.

[@altfiwithleighlommen310]

Sorry, Scott. He doesn't hold a candle to Jim Simons

[@scottshort6204]

All quants are boring

[@PetersonChevy]

Ray lost me at "buy gold" pfff 😂 boomer

[@foxooo]

Ray is delusional. He thinks China is gonna take over the world. Lol

[@slytherben]

Gold is a China play

[@bibbidi_bobbidi_bacons]

That guy has produced a few dollars

[@Timeus]

Chamath would be at a Trump fundraiser and still donate to both parties 😂 Dalio, let's hodl

[@timferguson593]

Ray Dalio = traitor.

[@augustoliver2779]

Yeah, life is fuked up. Isn’t the suicide rate higher than ever?

[@bbmatfreddy]

Lol, that guy is podcasting out of his hotel room with his wife or lover running around in the background and claiming he advised hedge funds in the past yet does not know whether hedge funds bought or shorted credit default swaps prior to the 2008 financial crisis to make money? What did he advice hedge funds on, how to sharpen their pencils?

[@wm6746]

smart people are buying gold, bros are loading on bitcoin... 😂😂😂😂😂

[@flibberdob936]

What is it with pocasters and their huge microphones? "Oh, look what a serious spokesperson I am. I've gotta be authoritative, just look a my mic!" A decent clip-on lavalier is far better sound quality as are a a good pair of earbuds and you don't look like a pretentious wanker-win win!

[@pirotrav]

I think the trouble with clip ons is movement. But maybe they could clip it to a stand? But then that might look weird... I'm totally a laymen though.

[@TheDailyGold]

"Ray it sounds like you did a 5 minute ad for Bitcoin." Were you even listening? It's Gold. He said uncorrelated. Bitcoin is a technology not a currency. Gold and Silver are going to go vertical when this happens.

[@mineralt]

Hot woman at 28:13 ❤

[@JASONUSASR]

FUNDRISE SUCK

[@wm6549]

Scott having this clown Dalio on makes me lose even more respect for him.

[@WhoisJohnGalt402]

This show is just trash !

[@johnmitchell7776]

I like Prof G but his jokes are terrible.

[@sidd_123]

69th!

[@Moe-yv1yi]

Most likely within 5 years😂😂😂what a useful information, count the previous 5 years and now u got 10 🎉

[@jptaillon]

Best investor ever!? What about Jim Simons at Rentech!? 38% a year net of fees for 40 years!! Ray is nowhere close… still nice to see him on the pod! Great work Pat!

[@theonlycaulfield]

RenTech medallion fund doesn't long term invest. Simons had said that the Medallion fund usually traded on the scale of minutes to days.

[@blassoff7667]

Over the last 3 years Bridgewater Associates' returns have been LESS than the S&P 500. So why does Prof G bring on his show a guest whose advice will make you less than an S&P 500 ETF? And why doesn"t Galloway challenge Dalio. Galloway likes to TRUMP how he worships money, but if we follow his advice, we would lose money betting on Dalio

[@Cpalms327]

Four of his six top holdings are SPY, NVDA, GOOG and META...but hates the concentration in tech....and no gold. Says one thing but does the complete opposite. Might have been a good question to ask him? no?

[@nvda2damoon]

well, Ray doesn;t really have much insights to offer, seems a waste of time.

[@Yomamaissoo]

We all read the book Ray: you are a scam.

[@gabrielzalzman9089]

Prof G, you normally nail what you present. In this case you missed a great opportunity to put Dalio into more pressured environment: what does the gloom scenario look like for people? less jobs? More inflation? Japan hasn’t showed any of those, just a decline on birth rates. What do economists get wrong about the new economics where deficit for countries doesn’t matter? You asked the question but never got answered. This was a bad interview. Sorry to say

[@pirotrav]

The DAWG is BACK! That was a terrific intro. I much prefer the 'inappropriate' humor. Probably because it lends some sincerity to the whole thing. And more importantly it's hilarious!!

[@simplysimian7118]

I completely agree that a savings mentality is vital to attain any degree of wealth. I’m a 68yo retired firefighter who started saving (or more accurately investing) in the early 1980’s. Once those dollars crossed over into the investment bucket, they were sacrosanct, never to be touched until well into retirement. I also lived below my means. Whenever my income increased, at least half went to my investments. I’d heard early on that you will never be able to stop working until your dollars start working for you. So, my dollars have been my bitches and I’ve worked my bitches hard (a joke). The hard part is changing your mindset after so many years. I have a seven figure portfolio and literally this month, I just started taking my first monies from my portfolio ($1,000.00 per month) which is well less than one percent of my investment account. In full disclosure, I inherited $20,000.00. I love your message and enjoy your missives. Keep it up.

[@rhvre]

My main takeaway from few previous shows - Fundrise is the worst.

[@BabaG]

When the price of energy goes down to almost zero ( will happen in the next 20-25 yrs) how does it affect monetary policy & debt?

[@latorregolf]

Might as well as my German shepherd about bitcoin as ask Dalio. He's right about one thing though, the system that he played so well is coming to an end.

[@rapfreak7797]

38 inches!

[@tchai91]

You just know that Scott will be calling Ed Pat from now on.

[@bhavikpatel576]

What an amazing intro

[@Lucasbdlt]

One of the less interesting pods yet. It just seems like the same people appear across all these pods. Value is going down to zero in the podcast market. Ray has a point on debt and long arcs of history, but I have yet to hear any valuable predictions from him. Geopolitical events have overtaken the narrative and it no longer looks like there is a changing world order in the way he alluded to.

[@Mcrow127]

Ray's video is suspect...he has a filter on or its AI generated. Also, Ray's answers were cut and condensed.

[@vnoriega90]

First!! Lol

[@matthewmelange]

A nice 15 minute episode today

[@BodyByBenSLC]

Literally people have been saying the US debt is going to destroy us since 1930, It was 36 billion then. 94 years later still no sign of "the end" anywhere in site.

[@kyleolson9636]

It's because the federal deficit is just one line item on our country's balance sheet. If you look at the total picture, in 2014 the federal reserve estimated the US had $270 trillion in assets and $146 trillion in debts, giving a net worth of $124 trillion (nearly $400k per citizen). The federal deficit just represents one entity within the US, with the majority of the debt being owned by domestic entities. The US will be in financial trouble if our net worth starts to decrease over an extended period, not because we choose to underfund the federal government.

[@jannichi6431]

Biden, and democratic leaders in general, understand,as modern history confirms, on most metrics that 'investing' in the future is Good Economic Sense. War is a black hole 🩸when funding doesn't get recirculated in the American economy. Many of Biden programs are 'Pay Fors'. Medicare for all would SAVE money. BTW, immigration is an economic necessity (1.5 m p/yr) and also Good for the economic prosperity.

[@themakerofmagic]

Look at the state of the USA. They were right. Go to down town LA.

[@BillHalpin1]

Why didn't occur to Prof g to ask Dalio about the fact that he pays only the carried interest tax rate on his billion dollar income shorting the treasury of this income

[@leojim1]

So, all the homeless people everywhere and the junkies everywhere is not a sign? People not being able to buy a house is not a sign? People living in debt forever is not a sign?

[@767er767er]

Agree 100% on Virgin Galactic. The promise of "point to point" travel is what excited me as an investor original. Sadly they have proven time and time again they can not succeed. Would love to hear your take on the new space economy companies like Rocketlab, Redwire etc.

[@ericmengel]

You definitely SHOULD be running for president- your mind is one that KNOWS how to FIX so many situations. Regardless, thank you for your mindset!!!

[@IlyaShichanin]

Ray: "I've been on the markets for 63 years" Guy is actually 74 y.o., so he's been "on the markets" since he was 11apparently