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Viewsroom

Ray Dalio taps his inner communist

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 14 September 2017

⏱️ 20 minutes

🧾️ Download transcript

Summary

Bridgewater’s founder thinks his kindred spirit resides in China’s anti-corruption czar Wang Qishan. Both seek radical transparency – though Dalio’s hunt is tied to forging a business in the Middle Kingdom. Plus: Exxon’s salvation may lie in the oil fields of West Texas. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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Joining your little ones on a fun-fueled adventure.

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Some fun, some food, it's all inside this Happy Meal.

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0:20.0

The views expressed on this podcast are those of the participants, not of Reuters' News.

0:32.2

Why is one of the most renowned hedge fund managers in capitalist America finding inspiration

0:36.6

for an influential

0:37.8

Chinese communist. And are the oil fields of West Texas, the South for Exxon's woes, or a potential

0:44.3

value trap? These are the issues we'll be tackling in this week's views room, a weekly

0:48.6

conversation among breaking views columnists about the ups and downs of the world of finance.

0:52.9

I'm Anthony Curry, and my co-host,

0:54.8

as ever, is Jennifer Saber. Hi, Jen. Hello. So first, let's turn to Ray Dalio. He's turned

1:00.6

Bridgewater Associates into a capitalist success story. The hedge fund he founded more than 40 years ago

1:06.0

manages some 160 billion in assets and is just as famous for its cultural of radical truth and transparency as it is for its financial results.

1:15.4

In his forthcoming book, though, Dahlia Heaps praise on Wang Qishon, the Secretary of Central Commission for Discipline,

1:22.2

Inspection in the People's Republic of China. That's a mouthful.

1:25.4

Joining us to explain what brings this odd couple together is one of

1:28.4

Breaking View's newest recruits, Chris Bador. Hello, Chris. Hi, how are you guys? Good. Thanks for coming on. So, Chris, first of all, why don't you tell us who Wong Qishan? How do you say is it? Wong Qishan? Yeah. who is he he's got a very long title he's in a very long like department what's going

1:47.3

it is enough was he Wang Qishan? Yeah. Who is he? He's got a very long title. He's in a very long, like,

1:46.1

department. What's going on? It is enough, as he said. So Wang is a member of the Pulp Bureau

1:51.9

Standing Committee. This is a seven-member organization that sits at the uppermost echelon of Chinese

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