Ray Dalio, the founder of Bridgewater Associates, the world’s most valuable hedge fund has issued a statement in which he says cash is no more trash. Dalio has hinted at a probable currency crisis. He views that the best option for a digital currency is a token linked to inflation.
He said that in today’s world money is being printed too much and it was not just a matter of the United States but a matter of all the reserved currencies. He added that Bitcoin was still too volatile to serve as money.
He continued that Bitcoin was not going to be an effective money, it was not an effective store holder of wealth, and that, it was not an effective medium of exchange.
Bridgewater was topping the headlines as they named a 37-year-old female employee as one of the co-CIO of the firm. Karen Karniol-Tambour is set to become the co-CIO along with 48-year-old Greg Jensen, and 64-year-old Bob Prince.
Karniol-Tambour has been serving the firm for more than a period of sixteen years. The hedge fund firm is worth of 125 billion US Dollars and Dalio had removed himself from the leadership around 6 months back.
Ray Dalio: Bio, Age, And Descent
Ray Dalio was the co-CIO (co-chief investment officer) of Bridgewater Associates, an American investment management firm that is the world’s largest hedge fund. Dalio is a billionaire investor and a hedge fund manager from the U.S.
He was the founding hand behind Bridgewater Associates, He has started investing at the early age of 12 and is an insightful philosopher in investing and policies and strategies related to it.
He was listed as the 79 wealthiest individuals in the world in 2020. Dalio is a published author with his work being on the bestseller list of the New York Times. Dalio is also a philanthropist with who had made a vow to donate more than half of his fortune to charitable activities before his death.
He is 73 years old. Ray Dalio is of Italian descent.
Ray Dalio: Early Life And Education
Ray Dalio was born in 1949 in the Jackson Heights neighborhood of Queens in New York. His father Marino Dallolio was a jazz musician, and his mother Ann was a homemaker. He was assigned the birthname of Raymond Thomas Dalio.
He has an undergrad degree in Bachelor of Science in Finance which he pursued from the C.W. Post College under Long Island University. Dalio holds an advanced degree in Master of Business Administration (MBA). He graduated in 1973 from the Harvard Business School in Boston, Massachusetts, from Harvard University.
Dalio has made income from a variety of sources from a young age. He had worked as a lawn mover, a snow shoveler, a newspaper delivery boy, and as a caddy at the Links Golf Club.
Ray Dalio: Investment Profile
Ray Dalio made debuted in the investment field with 300 US Dollars by buying the shares of Northeast Airlines, an American airline. Later when the company underwent a merger with another company his investment got tripled.
Ray Dalio: Career
Ray Dalio started a career as a clerk in the New York Stock Exchange. After that, he served in the directorial position at Dominick & Dominick LLC, an investment and merchant banking firm in New York. Later he was a broker and futures trader at Shearson Hayden Stone, an investment banking and retail brokerage firm.
In 1975 Dalio founded Bridgewater Associates in his two-bedroom apartment in New York City. In 2005 the firm became the largest hedge fund in the world. As of now, it has the position of the fifth most important private company in the United States.
Ray Dalio: Investment Philosophy
Dalio recommends diversifying across fifteen or more uncorrelated assets to reduce the risk-to-return ratio. That is to structure portfolios with uncorrelated investment returns that are based on risk allocations rather than asset allocations.
He had operated his business with a focus on cause-and-effect relationships and in-depth analysis of past phenomena. His firm Bridgewater has long followed a culture of idea meritocracy and radical transparency.
Ray Dalio: Personal Account
Ray Dalio is married to Barbara Dalio. The couple is settled in Greenwich, Connecticut. He has four children, four from his marital association with his wife. He is also a grandfather of five.
They are named Mark Dalio, Matthew Dalio, Paul Dalio, and Devon Dalio. Devon, his eldest son passed away at the age of 42, in 2020, in an automobile mishap. Paul Dalio, his third youngest son is an American director, screenwriter, and composer.
Dalio is listed in the 100 most influential in the world by Time magazine.
Dalio is a practitioner of transcendental meditation, which he had adapted into his life back when he was a high school student. He still uses it as a stress management technique. Dalio is fond of hunting and fishing.
Ray Dalio: Net Worth
Ray Dalio, as of the data of 2023, has a net worth estimated at 19.1 billion US Dollars. At present, he is ranked as the 85th richest person in the world today.
Dalio has earnings of more than 1 billion US dollars per year, with assets worth of more than 5 billion US Dollars and investments of more than 11 billion US Dollars.
Ray Dalio owns a 14,000 sq ft mansion in Baltimore, Maryland which he had bought for 30 million US Dollars.
Ray Dalio has a luxury car collection that includes $325,000 US Dollars worthy of Mercedes-Benz AMG, $190,000 US Dollars worthy of Porsche Panamera, $80,000 US Dollars worthy of BMW 440i, $75,000 US Dollars worthy of Lexus RC 350, $53,000 US Dollars worthy of Audi S5, and $40,000 US Dollars worthy of Genesis G70.
Dalio owns a private jet Cessna 680. He owns an explorer yacht, OceanXplorer Yacht of value 200 million US Dollars, and a fast support vessel, MY Umbra Yacht of value 9.35 million US Dollars.
Ray Dalio: As An Author
Ray Dalio is an author whose works are primarily based on economy, financial strategies, and investment philosophies. He authored How the Economic Machine Works; A Template for Understanding What is Happening Now, his first book in 2007.
His other published books are Principles: Life & Work, Principles for Navigating Big Debt Crises, and The Changing World Order: Why Nations Succeed and Fail. A second volume is on the way for his book Principles: Life & Work which was Amazon’s No. 1 business book in 2017, and the No. 1 bestseller in the New York Times. The new volume would be titled Principles: Economics & Investing.
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Ray Dalio: His Views
Ray Dalio views capitalism as the best economic system. Although so, because it does not suit the American lifestyle he viewed that it should be changed. He regarded the income inequality existing in the United States as a national emergency.
Earlier in 2020 he had warned about the rise of China to become a global superpower. In 2022 his hedge fund, Bridgewater Associates, removed itself from all the Chinese stocks such as Alibaba, NetEase, Bilibili, DiDi Global, and JD.com
Ray Dalio: Accolades And Recognitions
Ray Dalio is widely recognized as the Steve Jobs of Investing. In the 2012 International Achievement Summit held in Washington, D.C. he was honored with the Golden Plate Award of the American Academy of Achievement.
Ray Dalio: Health History
In 2012, Dalio was diagnosed with Barrett’s esophagus, a condition in which the esophagus is damaged by repeated exposure to stomach acid. It is a pre-cancerous throat disease.
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