Want to support the show? Visit donate.mercatus.org/podcasts
When Ray Dalio was 23, President Nixon announced that the United States would no longer be adhering to the gold standard for American currency. Clerking on the floor of the New York Stock Exchange, Dalio expected to see chaos—but instead stocks soared. Curious to understand this phenomenon, he began to read about similar events in 1933, and it opened his eyes to the lessons that could be drawn from history. His latest book draws on the patterns he’s gleaned from studying dynasties and empires throughout time, as well as his own experiences as a hedge fund manager and founder of Bridgewater Associates.
Ray joined Tyler to discuss the forces that will affect American life in the coming decades, why we should be skeptical of the saliency of current equities prices, the market as a poker game, the benefits and risks of the US dollar as the world reserve currency, why he thinks US inflation will not be transitory; the key to his success as an investor; how studying the Great Depression enabled him to anticipate the 2008 financial crisis, Bridgewater’s culture of radical transparency, the usefulness of psychometric profiles, where the United States is falling short most in terms of moral character; his truth-seeking process, the kinds of education crucial to building a successful dynasty or empire—and what causes them to fail, how transcendental meditation helps him be creative and objective; what he loves about jazz music, what we undervalue about the ocean, why he loves bow-hunting Cape Buffalo, and more.
Visit our website
Email: cowenconvos@mercatus.gmu.edu
Follow us on Twitter
Follow us on Instagram
Follow Tyler on Twitter
Follow Ray on Twitter
Like us on Facebook
Subscribe to our Newsletter: https://go.mercatus.org/l/278272/2017-09-19/g4ms
Thumbnail photo credit: Bridgewater Associates
Yasheng Huang on the Development of the Chinese State
Brad DeLong on Intellectual and Technical Progress
Glenn Loury on the Cover Story and the Real Story
Paul Salopek on Walking the World
Rick Rubin on Listening, Taste, and the Act of Noticing
Katherine Rundell on the Art of Words
Conversations with Tyler 2022 Retrospective
John Adams on Composing and Creative Freedom
Jeremy Grantham on Investing in Green Tech
Ken Burns on the Complications of History
Mary Gaitskill on Subjects That Are Vexing Everybody
Reza Aslan on Martyrdom, Islam, and Revolution
Walter Russell Mead on the Past and Future of American Foreign Policy
Byron Auguste On Rewiring the U.S. Labor Market
Vaughn Smith on Life as a Hyperpolyglot
Shruti Rajagopalan talks to Daniel Gross and Tyler about Identifying and Predicting Talent
Cynthia L. Haven on René Girard, Czeslaw Milosz, and Joseph Brodsky
William MacAskill on Effective Altruism, Moral Progress, and Cultural Innovation
Leopoldo López on Activism Under Autocratic Regimes
Matthew Ball on the Metaverse and Gaming
Create your
podcast in
minutes
It is Free
Navigating Life After 40
Teaching Learning Leading K-12
Regenerative Skills
The Jordan B. Peterson Podcast
The Mel Robbins Podcast