EMPIRE: Why Ray Dalio Thinks We May Be Headed for Civil War

The Next Big Idea

Next Big Idea Club

Social Sciences, Society & Culture, Education, Science

4.4 • 1.3K Ratings

🗓️ 10 March 2022

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

History, in the eyes of legendary investor Ray Dalio, is a perpetual motion machine. Nations rise and fall according to an inevitable cycle where peace and prosperity are always followed by depression and war. And in his new book, “Principles for Dealing with the Changing World Order,” Ray says the United States is now in the downward part of that cycle. Next Big Idea Club: Get 20% off an express membership when you use the code PODCAST20 at www.nextbigideaclub.com

Transcript

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0:00.0	LinkedIn presents.
0:06.0	When the causes that people are behind are more important to them than the system,
0:12.0	the system is in jeopardy.
0:14.0	I'm Rufus Griskem, and this is the next big idea.
0:18.0	Today, while legendary investor Redalio thinks the country may be headed for civil war.
0:30.0	How do you build the largest hedge fund in the world?
0:44.0	You start by getting a job as a golf caddy.
0:48.0	That's what Redalio did back in 1961 when he was 12 years old.
0:52.0	On weekends, he caddy did a club on Long Island called The Links.
0:56.0	Unlike Ray, whose father was a jazz musician and his mother, a homemaker,
1:00.0	the links was Ritsy.
1:02.0	Richard Nixon played there, started the Duke of Windsor, and Ray caddyed for both of them.
1:08.0	When I was cadding, they were talking to me about the stock market,
1:12.0	and I'd take my $6 a bag, and when I got $50, I'd put it in the stock market.
1:18.0	His first investment?
1:20.0	It was the only company that I ever heard of that was selling for less than $5 a share.
1:24.0	So I figured I could buy more shares, which meant if it went up, I'd make more money.
1:28.0	That was my rationale.
1:30.0	That was a stupid rationale, right?
1:32.0	And it was a company that was about to go broke.
1:36.0	But another company acquired it, it tripled in value, and I thought, this game's easy.
1:40.0	I can make a lot of money.
	...

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