A Restaurateur in Crisis and Hedge Fund Titan Ray Dalio

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 19 March 2020

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

“I don’t want people to mass panic, I want people to think.” Ray Dalio, founder of Bridgewater, the largest hedge fund in the world, considers the market downturn and what’s needed from investors and the Federal Reserve to relieve economic anxiety. Cameron Mitchell, founder and CEO of Cameron Mitchell Restaurants, has closed each of his restaurants in over a dozen states and cut his staff from 4000+ to a mere six. He considers the wide impact of pandemic-prompted shutdowns across the service industry. CEO of Boston Consulting Group Rich Lesser has been speaking with other CEOs around the world; he maps out the long term costs of business slowdown.

Transcript

Click on a timestamp to play from that location

0:00.0	This is a
0:02.0	a producer Katie Kramer.
0:04.7	Today on our podcast, Ray Dahlio, founder of the world's
0:08.1	largest hedge fund on the coronavirus economic shutdown.
0:11.3	What we have is a crisis.
0:14.3	We estimate right now that corporate losses would be in the vicinity of about $4 trillion.
0:22.1	Restaurants around the country have gone dark, one entrepreneur on the pandemic's impact to his industry.
0:27.0	By Friday, our total of 4,500 associates, as we call them, will be down to six 17 days ago I thought our business is in
0:35.6	great shape and doing great and today it's closed those stories and more it's
0:41.4	Thursday March 19, 2020,
0:43.7	Squack Pot begins right now.
0:45.7	Stand Becky by in three, two, one, fuel, please.
0:49.9	Good morning, everybody.
0:51.1	Welcome to Squack Box here on C NBC. I'm Becky Quick along with Joe
0:54.4	Kernan and Andrew Ross Sorkin.
0:58.0	Wall Street has been on a roller coaster ride amid the coronavirus turmoil.
1:01.2	A few highlights, the S&P 500 has swung 4% or more in either
1:05.6	direction for eight consecutive sessions. The spread of the virus, especially in
1:09.6	New York has led the New York Stock Exchange to temporarily close its historic trading floor as of
1:14.8	Monday and move fully to electronic trading.
1:18.2	Last night, the European Central Bank announced a new Pandemic Emergency Purchase Program
1:22.2	that will deploy the equivalent of about
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.