Ray Dalio on Investing, Management, and the Changing World Order

Conversations with Tyler

Society & Culture, Education

4.8 • 2.4K Ratings

🗓️ 15 December 2021

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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.

Read a full transcript enhanced with helpful links, or watch the full video.

Recorded November 5th, 2021

Other ways to connect

Follow us on Twitter and Instagram
Follow Tyler on Twitter
Follow Ray on Twitter
Email us: [email protected]
Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.

Transcript

Click on a timestamp to play from that location

0:00.0	Hi everyone, this is Dallas, producer of Conversations with Tyler.
0:08.4	We've reached the end of another great year of episodes, and I hope you've enjoyed listening
0:12.4	to and learning from them as much as I have.
0:16.0	Conversations with Tyler is just one of the many things I do here at Mercatus, and it's
0:20.5	without a doubt one of my favorite aspects about my job.
0:24.2	If you've enjoyed this podcast or have benefited from it in any way, please consider making
0:29.0	a financial contribution this holiday season before the end of the year at donate.mercatus.org
0:35.2	slash podcast.
0:37.1	That's donate.mercatus.org slash podcasts.
0:41.5	Any donation you submit will go towards the production of the show, including new episodes
0:46.0	released every other Wednesday.
0:48.0	Live shows and more in-person interviews when it's safe to hold them again.
0:51.8	Free and open transcripts of every episode, enhanced with helpful links, and all the books
0:56.7	and resources Tyler needs to prepare for these interviews.
1:00.4	Additionally, any donation of $75 or more, or any monthly donation of $5 or more, will
1:07.5	receive a copy of Stubborn Attachments signed by Tyler himself, and some sweet conversations
1:12.7	with Tyler Swag, while supplies last.
1:15.2	So don't wait.
1:16.2	The show's motto is listening produces knowledge, and if you have learned anything new, became
1:20.6	excited about a new topic, or had any ideas challenged from listening to this podcast,
1:25.8	please support the show at donate.mercatus.org slash podcasts.
1:31.6	We really appreciate your support and can't wait for you to hear what we have in store for
	...

Please login to see the full transcript.

Previous episode | Next episode

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

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