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☆ An agitated Ray Dalio once ordered an extensive study of urine on the men's room floor at Bridgewater, new book says
▼ + stars: | 2023-11-07 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Ray Dalio once ordered a probe into urine on the men's room floor, a new book says. Bridgewater said Dalio did complain about restroom tidiness, but the book passage is "exaggerated" and "false." In "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend," Copeland wrote that Dalio once excused himself from a meeting to use the restroom and he found pee on the floor. "It was a true circus," Copeland wrote in the book. Bridgewater even brought in new urinals and added stickers as targets, the book said, and later reviewed their exact placement.

Persons: Ray Dalio, Dalio, Bridgewater, —, Rob Copeland, Copeland Organizations: Service, New York Times, Bridgewater Associates, LinkedIn, Bridgewater Locations: Bridgewater

☆ Ending the 40-hour workweek is possible, but it'll require sacrifices from all of us
▼ + stars: | 2023-11-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking at the internet calling for changes to the "soul-crushing" and "depressing" 9-to-5 workday. The 40-hour workweek is facing a reckoning after a recent grad's viral TikTok emotionally questioning how people have time for a personal life while working a full-time job. AdvertisementAdvertisementSo yes, upending the 9-to-5 is possible — and worth considering — but only with a bit of sacrifice from all of us. Earnings today: Uber, eBay, H&R Block, Nintendo, and other companies.

Persons: —, Dolly Parton, Jeff Kravitz, FilmMagic, Dolly, Gen, Insider's, Gen Z, Tim Paradis, I've, we'd, Rebecca Zisser, Ray Dalio, That's, Rob Copeland's, Dalio, Warren Buffett's, Sam Altman Justin Sullivan, OpenAI's, Sam Altman, Slack, Lidiane Jones, Bumble, Tesla, Samantha Lee, WeWork, they're, Billie Jean King, Bryan Johnson, Dustin Giallanza, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bridgewater Associates, Bank of America, EV, Microsoft, Billie Jean King Cup, eBay, Nintendo Locations: Taylor, Berkshire, Kentucky, Mississippi, Sevilla, Spain, Australia, Canada, Czech Republic, France, Germany, Italy, Kazakhstan, Poland, Slovenia, Switzerland, New York City, San Diego, London, New York

☆ See questions from Bridgewater's 'Principles' test, which probed employees on arrogance and whether their colleagues would steal
▼ + stars: | 2023-11-07 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Take a look at some questions from the exam, published in "The Fund," out Tuesday. Dalio even had a team put together a five-section, closed-book Principles Test that was mandatory for all employees, Copeland wrote. "The Fund" published a handful of questions from the exam. One string of questions asked:"About what percentage of the Bridgewater population would steal if they could get away with it? In 2017, Dalio published his own book chronicling the lessons he learned throughout his career, called "Principles: Life and Work."

Persons: Ray Dalio's Bridgewater, —, Rob Copeland, Ray Dalio, Dalio, Copeland, Bridgewater Organizations: Service, Bridgewater, New York Times, Bridgewater Associates, Investment, LinkedIn Locations: Bridgewater

☆ Ray Dalio Interrogated His Pregnant Employee Until She Cried: Book
▼ + stars: | 2023-11-06 | by ( Rob Copeland | ) www.businessinsider.com time to read: +11 min

She was one of Ray Dalio's favorites. The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend by Rob Copeland. Excerpted from THE FUND: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend by Rob Copeland. A spokesperson for Ray Dalio told Insider, "This book is just another one of those classic tabloid books, authored by someone who applied for a job at Bridgewater and was rejected more than a decade ago. He then became an investigative reporter at a prominent newspaper and made a career of writing distorted stories about Bridgewater and Ray Dalio, at first in articles and now in this book.

Persons: Ray Dalio's, Katina Stefanova, mentee, Dalio, Stefanova, wasn't, lackeys, Bridgewater, hadn't, Who, Dalio's leveragers, Ray Dalio, Rob Copeland, Ray, Dustin Hoffman's Oscar Organizations: Bridgewater Associates, Bridgewater, Transparency, Martin's, Martin's Publishing, New York Times, Wall Street Journal Locations: Bridgewater, Bridgewater's Westport, Conn, St

☆ Ray Dalio once interrogated his pregnant protégé in front of his top execs until she cried
▼ + stars: | 2023-11-06 | by ( Rob Copeland | ) www.businessinsider.com time to read: +11 min

She was one of Ray Dalio's favorites. Dalio announced to the room that he would first "probe" and then deliver what he called a "diagnosis." The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend by Rob Copeland. Excerpted from THE FUND: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend by Rob Copeland. He then became an investigative reporter at a prominent newspaper and made a career of writing distorted stories about Bridgewater and Ray Dalio, at first in articles and now in this book.

☆ Ever Had a Horrible Boss? ‘The Fund’ Is the Perfect Rage-Read.
▼ + stars: | 2023-11-06 | by ( Mark Gimein | ) www.nytimes.com time to read: +2 min

There was the time when the parking staff was fired for designing parking passes deemed too big. When Dalio noticed a spill on the floor by his urinal, Copeland writes, he summoned a deputy to investigate. But for the most part, it has always been safer to be a lower-level drone than in Dalio’s direct orbit. Paul McDowell, tasked with designing the “Principles Operating System,” Copeland writes, “assigned an underling to go into the software and program a new rule. As the original, topmost believable person at Bridgewater, Dalio’s rating was now numerically bulletproof to negative feedback.

Persons: Dalio, Copeland, James Comey, Dalio’s browbeating, Paul McDowell, ” Copeland, “ Locations: Bridgewater

☆ Motivational quotes from billionaires Mark Cuban, Bill Gates and Ray Dalio: 'You are never too smart to be confused'
▼ + stars: | 2023-11-05 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Even billionaires wish they could go back in time and give their younger selves some wisdom. That goes for three of the world's more popular business icons: Mark Cuban, Bill Gates and Ray Dalio. Each amassed their fortunes through entrepreneurship: Cuban built a startup that was acquired by Yahoo for $5.7 billion, Gates co-founded tech giant Microsoft, and Dalio created Bridgewater Associates, one of the world's largest hedge funds. All three of them have experienced the heights of success — and each has regrets about the paths they took to get there. For example, as Dalio wrote during a Reddit "Ask Me Anything" Q&A in 2019: "The big message I would want to have given myself is: 'Why are you so stupidly arrogant!?!'"

Persons: Mark Cuban, Bill Gates, Ray Dalio, Gates, Dalio Organizations: Yahoo, Microsoft, Bridgewater Associates

☆ McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies grow more than a thousand-fold
▼ + stars: | 2023-11-04 | by ( Em Steck | ) edition.cnn.com time to read: +5 min

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. I held deep reservations about Bridgewater’s exposure to the moral and patriotic hazards of doing business in China,” McCormick said in September 2023 before officially launching his campaign. That amounts to a 108,000% increase in Chinese holdings over a five-year period. In 2017, Bridgewater reported investing in just one US exchange traded Chinese company; by the final quarter of 2021, its holdings included 47 Chinese companies. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

Persons: David McCormick’s, McCormick, ” McCormick, Hugh Hewitt’s, CNN’s KFile, Bush, Mehmet Oz, Oz, Democrat John Fetterman, Bridgewater, Elizabeth Gregory, “, he’s, Ray Dalio –, thievery ”, ” Organizations: New, New York CNN, US, CNN, CCP, Bridgewater Associates, US Securities and Exchange, Bridgewater, Republican Party, Republican, Democrat, Chinese Communist Party, US Commerce Department Locations: New York, Pennsylvania, hardliner, China, McCormick’s, United States, Xinjiang, ”

Both changes to the process for designating a non-bank as a "systemically important financial institution," or SIFI, were proposed in April. Friday's vote reversed a Trump administration policy that regulators should police risky activities rather than single out individual firms. Under the revamped process, FSOC will identify potential SIFIs based on existing information and give the company a chance to respond. Similarly, the Managed Funds Association, which represents hedge funds, said non-banks do not pose the same risks as banks. "The guidance imposes a black box designation process that introduces uncertainty for market participants," said MFA President and CEO Bryan Corbett.

Persons: Brendan McDermid, Donald Trump, FSOC, Trump, Janet Yellen, Eric Pan, Bryan Corbett, Barack Obama, Ian Katz, Pete Schroeder, Chris Reese, Michelle Price, Richard Chang Organizations: Wall, REUTERS, WASHINGTON, Treasury Department, U.S . Federal, BlackRock, Bridgewater, Investment Company Institute, Association, MetLife, Inc, General Electric Capital Corporation, American International Group, Prudential Financial, Capital Alpha Partners, Carolina, Thomson Locations: New York, U.S, BlackRock, Bridgewater

☆ How Does the World’s Largest Hedge Fund Really Make Its Money?
▼ + stars: | 2023-11-01 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +2 min

For years, the whispered questions have passed from one Wall Street trading floor to the next. Bridgewater Associates, a global investing force, had $168 billion under management at its peak in 2022, making it not just the world’s largest hedge fund, but also more than twice the size of the runner-up. Yet the hedge fund’s overall descriptions of its investment approach could be maddeningly vague. Mr. Dalio often said he relied on Bridgewater’s “investment engine,” a collection of hundreds of “signals,” or quantitative indicators that a market was due to rise or fall. (One rule reads, in part: “Not all opinions are equally valuable so don’t treat them as such.”)

Persons: Ray Dalio, Dalio, Bridgewater Organizations: Bridgewater Associates, Bridgewater, White, Federal Reserve Locations: Manhattan, Bridgewater

☆ Spiking Treasury yields are triggering pain in stocks. 3 experts discuss the renewed threat of bond vigilantes and what else could move markets.
▼ + stars: | 2023-10-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Investors are now tasked with trying to understand where bond yields go next, and what the drivers of those yields would be. Forget about the technical charts, he says — they are not driving the bond market right now. While Fed policy has consequences for the bond market, investors drive the yield, Johnson said. That means trying to predict where bond yields will settle will be very hard. But fear in the stock market could translate to greed in the bond market as investors flee to safety.

Persons: Paul Ciana, Gordon Johnson, —, Johnson, Ed Yardeni, Kevin Zhao, Liz Truss, Ray Dalio, Fitch, Eric Leve, Michael Gayed, there's, Russell, Leve, hasn't Organizations: Federal Reserve, Investors, Bank of America, GLJ Research, UBS Asset Management, CNBC, Greenwich Economic, Tidal Financial, P Bank ETF, BlackRock Locations: Bridgewater, Greenwich

☆ Elon Musk, Jamie Dimon, and Ray Dalio just issued fresh warnings about the US economy. Here's what 10 experts recently said about recession risks.
▼ + stars: | 2023-10-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk, Jamie Dimon, and Ray Dalio all have serious concerns about the US economic outlook. Leon Cooperman, David Solomon, and David Rosenberg have also predicted trouble in recent days. AdvertisementAdvertisementJamie Dimon, Elon Musk, and Ray Dalio are just some of the high-profile commentators who've raised the alarm on the economic outlook in recent days. Elon Musk, CEO of Tesla"I think there's still quite a few shoes to drop on the bad credit situation. David Rosenberg, president of Rosenberg Research"I am willing to acknowledge that the recession has been delayed.

Persons: Elon Musk, Jamie Dimon, Ray Dalio, Leon Cooperman, David Solomon, David Rosenberg, —, who've, Jeremy Grantham, Tesla, I'm, Rosenberg, We've, Goldman Sachs, there's, we've, Larry Fink, Fink, Stephen Schwarzman, Blackstone, we'll, Harley Bassman Organizations: Service, JPMorgan, Omega, Bridgewater Associates Locations: Israel, Ukraine, China

☆ Wall Street warning: Ray Dalio, Jamie Dimon, Larry Fink issue grim outlooks for the global economy
▼ + stars: | 2023-10-25 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, and Steve Schwarzman all shared their views. They tackled topics such as inflation, recession, the Israel-Hamas war, and commercial real estate. JPMorgan CEO Jamie Dimon, BlackRock CEO Larry Fink, Goldman Sachs CEO David Solomon, Blackstone CEO Steve Schwarzman, and Bridgewater Associates founder Ray Dalio all shared their views. They touched on everything from the Israel-Hamas conflict and pressures on commercial real estate to inflation, interest rates, fiscal and monetary policies, and the risk of recession. David SolomonThe Goldman Sachs chief recalled the boom in mergers and acquisitions coming out of the pandemic, as massive amounts of fiscal stimulus and rock-bottom interest rates fueled "extreme confidence."

Persons: Ray Dalio, Jamie Dimon, David Solomon, Larry Fink, Steve Schwarzman, —, Goldman Sachs, Blackstone, Dalio, Dimon, Fayez Nureldine, David Solomon The Goldman Sachs, that's, Solomon, Fink, aren't, he's, we'll, Schwarzman Organizations: Service, Future Investment Initiative, Tuesday, JPMorgan, BlackRock, Bridgewater Associates, Getty Locations: Saudi Arabia, Israel, Russia, Ukraine, Riyadh, AFP

A Saudi man's reflection is seen in mirror glass at the Future Investment Initiative conference, in Riyadh, Saudi Arabia, October 25, 2022. Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy, World Bank President Ajay Banga said. The conflict could upset the stability of the Middle East just as regional powerhouse Saudi Arabia pours hundreds of billions of dollars into a vast economic transformation plan. Saudi Arabia is putting U.S.-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war rages between Israel and Hamas. The last year has seen Saudi Arabia spend billions on companies, from sports to gaming to aviation.

Persons: Ahmed Yosri, Ajay Banga, Banga, Laurence Fink, Fink, Goldman Sachs, David Solomon, JPMorgan's, Jamie Dimon, Jane Fraser, Ray Dalio, Dalio, Noel Quinn, Bill Winters, Barack Obama, Yasser al, Salomon, Hess, Stephen Schwarzman, Schwarzman, Prince Mohammed bin Salman, Joe Biden's, Richard Attias, Rosario, Amanda Cooper, Alun John, Michael Georgy, Anousha, John O'Donnell, Susan Fenton Organizations: Future Investment Initiative, REUTERS, Rights, Saudi Arabia's, Hamas, BlackRock, Bridgewater Associates, HSBC, Former U.S, U.S, Saudi Telecom Corp, Telefonica, Investment Fund, Chevron, Blackstone Group, Investment Initiative, Saudi, FII, Reuters, Jorgelina, Thomson Locations: Saudi, Riyadh, Saudi Arabia, Rights RIYADH, Israel, Davos, Swiss, Gaza, Europe, Asia, London

☆ Ray Dalio says this 1 question will help you uncover someone's true motives: 'This applies to everything'
▼ + stars: | 2023-10-19 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Almost everyone has an ulterior motive, according to billionaire investor Ray Dalio — and figuring it out comes down to asking yourself one simple question. "This applies to everything: when you're buying something, asking for advice, reading the newspaper, watching the news, etc.," he wrote. "That is because most people (though not all people) are trying to sell you something that will help them get the things they want." As for seeing things from a "higher level," Dalio has long attributed that ability to his success at evaluating financial markets. "I call this ability to rise above your own and others' circumstances and objectively look down on them 'higher-level thinking,'" Dalio wrote on Facebook a year later.

Persons: Ray Dalio —, Dalio, Diane Dreher, " Dreher Organizations: Bridgewater Associates, Pew Research Center, Psychology Today, YouTube, Facebook, CNBC, Global Locations: U.S

☆ A low-cost way to protect against an S&P 500 drawdown as risks escalate
▼ + stars: | 2023-10-16 | by ( Michael Khouw | ) www.cnbc.com time to read: +8 min

The Cboe Volatility Index , commonly referred to simply as "the VIX", is an index derived from 30-day S & P 500 index options prices. Put simply, the VIX represents the options market's expectations for S & P 500 volatility over the next 30 days. Sometimes referred to as a "fear index", Friday's VIX Index closing level of 19.32 is only slightly below the 6-month high of 20.09 seen on May 4th. Financials significantly outperformed, finishing Friday up 0.2% while the S & P overall fell by 0.5%. Options traders and strategists are often asked, "Is there a way to use options to hedge my portfolio?".

Persons: Gerald Ford, Dwight Eisenhower, Ike, Ray Dalio, Wells, Financials, doesn't Organizations: Investors, Federal, University of Michigan, West Bank, IDF, Bridgewater Associates, JPMorgan, Citigroup, Trader, Trust Locations: Ukraine, Gaza, Israel, Saudi Arabia, Lebanon, Iran, Europe, Wells Fargo

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis. Not enough reforms are being implemented, OECD chief economist Clare Lombardelli warned.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

☆ There's now a 50% chance of world war as the Israel-Hamas conflict threatens to spread, hedge fund legend Ray Dalio says
▼ + stars: | 2023-10-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The risk of a world war that includes the US and China has risen to 50%, the elite investor says. AdvertisementAdvertisementThe Israel-Hamas clash threatens to spark other bloody battles, meaning it's now a coin toss whether a world war breaks out that includes the US and China, Ray Dalio has warned. "If they spread to other countries, most importantly the major countries, there will be a much more horrific hot world war," he said. "It seems to me that the Israel-Hamas war is another classic, unfortunate step toward a more violent and encompassing international war." Dalio said his "pipe dream" would be for everyone to recognize the horror of a world war and come together to avoid one.

Persons: Ray Dalio, —, Dalio, Bridgewater's Organizations: Service, Bridgewater Associates, Hamas Locations: Israel, China, Gaza, Russia, Ukraine

☆ The Latest News, Headlines, and Business Stories for October 10
▼ + stars: | 2023-10-10 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Business: All the best deals for Amazon's October Prime Day sales. 3 things in businessAmazonAll the best October Prime Day deals. Amazon Prime Big Deals Days (also known as the October Prime Day) kicks off today.

Persons: —, you've, Yasser Qudih, Tom, Khan Yunis, Said Khatib, Janet Yellen, Chip Somodevilla, Yellen, Ray Dalio, David Risher, Kendall Jenner, Naomi Osaka, Charli D'Amelio, Tom Brady, Bob Iger, Nelson Peltz, Brady MacDonald, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, Hamas, Getty, Bridgewater Associates, America, Technology, Meta, Disney, ESPN, ABC, National Hockey League, Vegas Golden Knights, Nashville Predators, Tampa Bay Lightning, Chicago Blackhawks, Pittsburgh Penguins, Amazon, PepsiCo, Sky, Delta Sky Club, LAX, LAX Sky Club, Hollywood Locations: Israel, Gaza, AFP, Dadu, Charli, Phoenix, Seattle, New York City, San Diego, London, New York

The pandemic pushed financial giants to embrace a more casual dress code that many other corporations had begun to embrace. Diversity in dressFor some women on Wall Street, the shift from business formal to business casual has allowed them to step out of the unofficial uniform of pantsuits and sheath dresses. Lululemon in the boardroomNo Wall Streeters mentioned buying more Ferragamo ties, but many said they were leaning into athleisure. People still come in wearing their suits and ties and their Louboutins, and I'm like, 'what are we doing here?' "For a lot of client interactions, dressing business casual can make it more comfortable and can lead to a better relationship-building experience."

Persons: Luis Arteaga, Shanta Wu, Kristen Powers, Morgan Stanley, She's, Thom Browne, Anne, Victoire Auriault, Goldman Sachs, Jack Dillon, He's, David Trinh, It's, we've, Thoma Bravo, Andrew Almeida, Richard Handler, Jefferies, Katya Brozyna, I'm, Benjamin Kiflom, Neil Kamath, Sarah Sigfusson, Michael Wilkinson, Wells, Patrick McGoldrick, Laiwala, I've, Rachel Hunter, Goldman, Luna McKeon, Ricky Mewani, Dominic Rizzo, Rowe Price Organizations: Barclays, Fidelity, Vista Equity Partners, Bridgewater, Jefferies, Nike Air Force, Goldman Sachs Asset Management, Bank of, Moelis & Company, KKR, Blue Owl, Citadel Locations: Bridgewater, New York, Florida, Miami, San Francisco

☆ US-China relations are 'on the brink of red lines' but war is still unlikely, says hedge fund legend Ray Dalio
▼ + stars: | 2023-10-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Hedge fund legend Ray Dalio said US-China relations are "on the brink of red lines." Even so, Dalio said he doesn't think a war between the US and China is likely. AdvertisementAdvertisementThe US and China relationship is "on the brink of red lines" — but war is unlikely, said hedge fund legend Ray Dalio at the Greenwich Economic Forum on Tuesday, according to a Bloomberg recording. That's the equivalent of declaration of war," said Dalio, who is the founder of hedge fund giant Bridgewater Associates. Dalio stepped down as Bridgewater's co-CIO in October last year but was involved in setting up the hedge fund's first onshore China fund in 2018.

Persons: Ray Dalio, Dalio, — Organizations: Service, Greenwich Economic, Bloomberg, Bridgewater Associates, Bridgewater's Locations: China, Taiwan, Greenwich, United States

☆ What Kevin McCarthy's ousting as House Speaker means for markets
▼ + stars: | 2023-10-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

The ousting of Republican Kevin McCarthy as House Speaker may not have an immediate impact on Wall Street, but it raises the likelihood of a government shutdown in the fourth quarter — which could inject more volatility into an already rattled market. Now, Congress also grapples with deciding its next speaker to lead the House. "The immediate market impact of McCarthy's ouster is relatively limited as the government is funded through November 17," said BTIG's Isaac Boltansky. "The near-term concern is that the House's paralysis will further complicate the already complicated calculus surrounding the forthcoming funding fight." Impact on the defense sector The removal of McCarthy could have an impact on the defense sector.

Persons: Kevin McCarthy, Goldman Sachs, Jan Hatzius, Ray Dalio, Isaac Boltansky, McCarthy, Scott Deuschle, Lockheed Martin, Northrop Grumman, Deuschle, — CNBC's Michael Bloom Organizations: Deutsche Bank, Lockheed, General Dynamics, Huntington Ingalls Industries Locations: Ukraine

☆ In hedge funds' backyard, private credit is the toast of the town
▼ + stars: | 2023-10-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Instead, people like Ken Kencel — CEO of Churchill Asset Management, a private credit division of asset management giant Nuveen — held court. In the next decade, he predicted that private credit shops and direct lenders could fill in the holes in the asset-based lending space, as well as home and auto loans. Private credit — or alternative credit or direct lending — is a subsect of finance that has grown rapidly thanks to higher interest rates and distressed banks. Higher interest rates are forcing institutions — the pensions and endowments that make up hedge funds' biggest investors — to rethink their portfolios. But while the Bridgewater founder had the rapt attention of the room, it was at a direct lending panel a couple of hours later when an ambitious audience member pitched himself to the private credit executives onstage.

Persons: Ray Dalio, Cliff Asness, Ken Kencel, —, I've, Banks, Gregory Robbins, Jan Van Eck Organizations: Greenwich Economic, Churchill Asset Management, Golub Capital, Bridgewater Locations: Greenwich, China

☆ Dalio says China-US relations are 'on the brink of red lines'
▼ + stars: | 2023-10-03 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Ray Dalio, Bridgewater's Co-Chairman and Co-Chief Investment Officer speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsGREENWICH, Connecticut, Oct 3 (Reuters) - Ray Dalio, founder of hedge fund Bridgewater Associates, said on Tuesday that the relationship between China and the United States is "on the brink of red lines," although he does not see a war on the way. "U.S.-China relationship relations are in a number of areas on the brink of red lines," he told the audience of investors, adding that a war is unlikely. A China enthusiast and investor, Dalio has helped Bridgewater build a relevant hedge fund in the world's second-biggest economy. Reporting by Carolina Mandl in Greenwich, Connecticut Editing by William Maclean and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ray Dalio, Bridgewater's, Brendan McDermid, Dalio, Carolina Mandl, William Maclean, Matthew Lewis Organizations: REUTERS, Rights, Bridgewater Associates, Greenwich Economic, Bridgewater, Federal, Carolina, Thomson Locations: New York City, U.S, Rights GREENWICH , Connecticut, China, United States, Greenwich, Taiwan, Washington, Beijing, Greenwich , Connecticut

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