Also available as a free pdf
By Ray Dalio
Review via MarketWatch
Let’s make one thing perfectly clear: Ray Dalio sees parallels between the U.S. today and during the unstable 1930s, but the billionaire hedge-fund manager does not expect the next financial crisis to rival the one that knee-capped Americans in 2008 and nearly triggered another Great Depression.
That said, the founder of Bridgewater Associates, the world’s largest hedge-fund firm, is concerned that when the downturn hits — likely within the next couple of years, by his reckoning — investors, companies, politicians and policy makers will be blindsided, or worse. Capitalism and democracy, our system of government, will be under heavier fire than it is already.
Continue reading
