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☆ Ray Dalio says buy forward the fundamental things you'll need, and shares 3 additional tips that can help investors navigate the current economic environment.
▼ + stars: | 2022-10-13 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Ray Dalio says we will be searching for a true store hold of wealth for the next 10 years. On Tuesday, Bridgewater Associates founder Ray Dalio took the stage during the Greenwich Economic Forum to discuss the state of the global economy. Central to his discussion was the belief that the Federal Reserve will need to navigate between inflation and a weak economy going forward. But the magnitude of the current economic crisis is not something we're used to, he noted. What is the true store hold of wealth will be the question of our time, Dalio said.

☆ Top economist David Rosenberg predicts US inflation will plummet below 3% next year - and warns the Fed's rate hikes are courting disaster
▼ + stars: | 2022-10-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The Fed is fighting inflation too hard as price pressures are fading, David Rosenberg said. The Rosenberg Research chief expects inflation to drop from over 8% to below 3% in the next year. Rosenberg warned that if the Fed keeps tightening its monetary policy, it could tank house prices and spark a credit crunch in the banking sector. He suggested the Fed has a "once burnt, twice shy mentality" after reacting too slowly to the inflation threat, and may have overcorrected as a result. Notably, Rosenberg warned investors not to expect stocks to rebound instantly once the Fed starts easing its policies again.

☆ A view from Greenwich: Big investors from Bridgewater, Apollo, and Ares are preparing for when, not if, a recession hits
▼ + stars: | 2022-10-13 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +5 min

At the Greenwich Economic Forum on Tuesday, big investors said they expected a downturn. Many big investors anticipate a lighter recession than in the past as the Fed hikes interest rates. And while it's held in the hedge fund capital of the world, private credit dominated discussions. Some investors, like Lawrence Golub, chief executive of $55 billion credit asset manager Golub Capital, expect a period of low growth but no severe recession. It's going to be one where there's some economic growth in various parts of high-end consumer, or other areas," he said.

☆ Some Big Tech firms were the top landing spot for recent Goldman Sachs tech departures, and it could be an early sign of the changing tides in the war for talent
▼ + stars: | 2022-10-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, the latest installment in Wall Street's war for tech talent. Big Tech wants its engineers back. In the ongoing war for top engineering talent, Big Tech has landed the latest blow against one of Wall Street's most powerful firms. Read more about the top firms scooping up recent Goldman departures, and how it could be representative of the larger issues Wall Street faces when trying to attract tech talent. Robo-advisor Betterment just launched customized crypto portfolios, the Wall Street Journal reports.

☆ Cash is king again as money managers are in no rush to embrace risk with Fed raising rates
▼ + stars: | 2022-10-12 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on October 07, 2022 in New York City. Asset managers rushed to the sidelines as they expect more ugly moves for risk assets amid the Fed's inflation fight. Money market funds are also yielding better returns than previous years after Treasury yields got pushed up by rate hikes. Global money market funds saw $89 billion of inflows for the week ending Oct. 7, the largest weekly injection into cash since April 2020, according to data from Goldman Sachs' trading desk. Meanwhile, mutual fund managers are also holding a record amount of cash, the data said.

☆ Billionaire investor Ray Dalio warns the US faces a 'perfect storm' of problems - and predicts more pain for markets and the economy
▼ + stars: | 2022-10-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The US faces a "perfect storm" of debt, political strife, and an overseas war, Ray Dalio said. Dalio warned the Fed will have to hurt markets and the economy to conquer stubborn inflation. Dalio complained that "ridiculously stupid" interest rates and a flood of cheap money have inflated US asset prices and overstimulated the economy in recent years. "They will raise interest rates to the point that there's enough economic pain and financial market pain to deal with that," he said. Dalio, the founder of Bridgewater Associates, recently stepped down as the hedge fund's co-chief investor, and now serves as a mentor to its bosses.

☆ Bridgewater's co-CEO explains how the hedge fund, famous for its brutally honest culture, will evolve for the next generation of employees
▼ + stars: | 2022-10-12 | by ( Alyson Velati | ) www.businessinsider.com time to read: +4 min

Co-CEO Nir Bar Dea is already making changes to its famously radically transparent culture. Bridgewater Associates' co-CEO Nir Bar Dea is looking to make some changes to its controversial culture as founder Ray Dalio takes a step back. "The ideas are different," Dea said speaking at the Bloomberg Invest event Wednesday. Changing the culture for the next generationThe culture changes are already underway, said Dea. In a tweet last week, Ray Dalio said that he would give up control of the $150 billion hedge fund.

☆ How the wealthy use life insurance to escape estate tax and why the tactic is now attracting scrutiny
▼ + stars: | 2022-10-12 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

I'm Jeffrey Cane, stepping out from behind the 10 Things on Wall Street newsletter curtain to help catch you up on all things financial today. But first: Could I interest you in some life insurance? Yes, life insurance is one answer, but it's life insurance with a twist. This little-known tax tool, which may be coming under increasing scrutiny, is called private placement life insurance, or PPLI. It is effectively a life insurance policy that is owned by an offshore trust.

REUTERS/Brendan McDermid/File PhotoOct 12 (Reuters) - Signs of stress are growing in the global financial system, sparking worries over everything from contagion between markets to ruptures in financial products. This week alone, a gloomy report from the International Monetary Fund flagged risks of “disorderly asset repricings” and “financial market contagions” while JPMorgan chief Jamie Dimon predicted a looming recession. Global financial conditions, which reflect the availability of funding, touched their tightest since 2009 in late September, an index compiled by Goldman Sachs showed, lifted by surging interest rates, falling equities and a soaring dollar. “There are dollar funding shortages.”The IMF's Global Financial Stability Report, released Tuesday, also highlighted specific risks in open-end investment funds and the leveraged loan market. U.S. Treasury Secretary Janet Yellen on Tuesday said she has not seen signs of financial instability in U.S. financial markets despite high volatility.

☆ Bridgewater's Dalio warns of a 'perfect storm' for economy
▼ + stars: | 2022-10-11 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

GREENWICH, Conn., Oct 11 (Reuters) - Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world's biggest hedge funds, said a "perfect storm" is forming that will spread economic pain as the U.S. Federal Reserve raises interest rates. Domestic tension in the U.S. population caused by "irreconcilable differences" and a yawning wealth gap, combined with international conflicts, are contributing to the perfect storm, he said. Register now for FREE unlimited access to Reuters.com Register"The Fed and the government together gave enormous amounts of debt and credit and created a lurch forward. So now we're going to create a giant lurch backward," Dalio said at the Greenwich Economic Forum. read moreThe 73-year-old investor will keep his seat on Bridgewater's operating board of director and will mentor the firm's chief investment officers.

☆ Ray Dalio on stepping away from Bridgewater: 'I love the investment game, so I'll keep playing it'
▼ + stars: | 2022-10-11 | by ( Rebecca Ungarino | Alyson Velati | ) www.businessinsider.com time to read: +4 min

Ray Dalio, founder of Bridgewater Associates, said he's not ready to stop investing just yet. "I love the investment game, so I'll keep playing it. Dalio said in a tweet last week that he would give up control of the $150 billion hedge fund. Bridgewater's investment strategy is being led by the co-chief investment officers Greg Jensen and Bob Prince. Murray claimed that Bridgewater withheld up to $100 million in deferred compensation after she told regulators about the gender-discrimination dispute.

☆ There's renewed hope in the possibility that global central banks are nearing the end of their rate hike cycle. Here's how that's driving markets.
▼ + stars: | 2022-10-05 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +6 min

Central bank moves and softer economic data have investors hoping that the Fed and other central banks are almost done hiking interest rates. There's some renewed hope for a Fed pivot on the horizon. Australia's central bank surprised forecasters by raising interest rates by a less-than-expected 25 basis points, becoming the first central bank to abandon its path of jumbo rate hikes. Fewer job openings mean employers aren't compelled to offer more competitive wages. Number of job openings Chart: Andy Kiersz and Madison Hoff Source: Bureau of Labor Statistics via FRED10.

☆ Billionaire investor Stanley Druckenmiller says owning stocks 'doesn't make a lot of sense' right now as the US economy will likely go into recession in 2023 — and warns the market is in for a decade
▼ + stars: | 2022-09-29 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Billionaire investor Stanley Druckenmiller says the US economy is headed for a recession in 2023. Stanley Druckenmiller delivered a bleak message on Wednesday on the fate of the US economy: a recession is very likely sometime next year. "I will be stunned if we don't have a recession in '23," Druckenmiller said at the CNBC Delivering Alpha conference in New York. Given the poor macroeconomic outlook and the Fed's stated willingness to cause damage to the labor market, Druckenmiller said he's not bullish on risk assets like stocks right now. "You can have a period of 15, 20 years, 10 years where the market doesn't go anywhere.

"Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability," the British central bank said. By 2:48pm (1348 GMT) it was trading down 0.5% at $1.0679, a fall of 12% in the last three months. The BoE said it would return to its plan to sell bonds and its launch was only postponed until the end of October. RESTORE ORDEROn Monday the BoE said it would not hesitate to raise interest rates and was monitoring markets "very closely". But the slide in bond prices continued unabated on Wednesday, prompting the BoE to make its move.

☆ Billionaire investor Ray Dalio says UK’s economic plan 'suggests incompetence'
▼ + stars: | 2022-09-28 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Ray Dalio, founder of Bridgewater Associates LP, speaks during a panel session on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, May 25, 2022. The financial market turmoil resulting from the U.K. government's spending plan "suggests incompetence," according to billionaire investor Ray Dalio. "I can't imagine that this is intended – and if it's not intended then it's an understanding question," Dalio said on BBC Radio 4′s "Today" program Wednesday. The measures included large swathes of unfunded tax cuts that have drawn global criticism, including from the International Monetary Fund. "It doesn't stimulate the economy, productivity is what stimulates the economy over the long run," Dalio said.

☆ Dow jumps 548 points as the Bank of England's intervention calms market panic over the UK's budget plans
▼ + stars: | 2022-09-28 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks climbed Wednesday, with the S&P 500 logging its first win in seven sessions. Oil prices rose and concerns about iPhone 14 demand weighed on Apple's stock. The Dow industrials and the S&P 500 were higher after six straight losses while the Nasdaq Composite rose for a second straight session. All 11 sectors on the S&P 500 gained ground, led by the energy group. Oil prices rose after US weekly crude stockpiles unexpectedly fell by 200,000 barrels.

☆ The bond market is in the middle of its worst decline since 1949. It's set to unravel some very popular trades, BofA says.
▼ + stars: | 2022-09-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

And below, I'm breaking down what Bank of America has to say about the worst bond market decline in over 70 years. The bond market is in the middle of a historic crash and it'll hammer stocks, according to a Friday note from Bank of America. As central banks around the world move to stem inflation, BofA analysts said bonds are experiencing their worst decline since 1949. What's your stock market outlook heading into year-end? As stocks sell off, Fundstrat's Tom Lee is sticking to his bullish year-end stock market forecast.

☆ Wall Street's most highly regarded titans are warning 'the worst is yet to come' for stocks. Here's why people like Ray Dalio, Jeremy Grantham, Carl Icahn, and Scott Minerd are bearish on the market's
▼ + stars: | 2022-09-24 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Ray Dalio, Carl Icahn, Scott Minerd, and Jeremy Grantham all warned in recent days of more downside. In recent days, a number of them — including Ray Dalio, Jeremy Grantham, Scott Minerd, and Carl Icahn — have warned that further downside is coming. Ray Dalio, founder of Bridgewater AssociatesRay Dalio at the MarketWatch Best New Ideas in Money Festival in New York on September 21, 2022. Carl Icahn, founder of Icahn Enterprisesvia CNBCIcahn also pointed out this week that it's a generally bad environment for economic growth and investors with the Fed tightening, which he supports. "I think it's going to be worse before it gets better," Icahn said at the MarketWatch Best New Ideas in Money Festival on Wednesday.

☆ Ray Dalio says his hedge fund Bridgewater Associates is up around 25% this year. He shares 2 ways investors should approach a market he says is due to drop another 20% — and an area he's bullish on lo
▼ + stars: | 2022-09-22 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Bridgewater Associates founder Ray Dalio said on Wednesday that stocks are likely to fall further. Given his down outlook, Dalio was asked how investors should approach the current environment, and gave two answers. The former shields investors from rising or falling inflation rates, while nominal bonds can lose money when considering inflation. Dalio also recommended that investors keep their portfolios well-balanced and diversified, and avoid timing the market. "The most important thing that you can do is have a well-balanced portfolio, not to market time, but diversify," Dalio said.

☆ JPMorgan CEO Jamie Dimon slammed crypto as dangerous - and called bitcoin a Ponzi scheme
▼ + stars: | 2022-09-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jamie Dimon slammed bitcoin and some other crypto as "decentralized Ponzi schemes." However, Dimon touted blockchain and said he would welcome a properly regulated stablecoin. "I'm a major skeptic of crypto tokens, which you call currency, like bitcoin," the JPMorgan CEO told the House Financial Services Committee on Wednesday. Dimon told the same Congressional committee in May 2021 that crypto was inferior to conventional assets such as dollars and gold. Moreover, the JPMorgan boss said in 2017 that bitcoin was a fraud, and the hype around it would end in disaster.

☆ Ray Dalio sees these classic early signs of a US recession and expects the economy to get worse over the next 2 years
▼ + stars: | 2022-09-21 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Bridgewater's Ray Dalio says the US is showing the hallmark signs of a recession. Dalio pointed to drawdowns in cash balances, contracting housing and auto sectors, and rising delinquency rates. "I think it's going to get worse into '23 and '24, which has implications for elections," Dalio said. Speaking before the Fed's policy announcement, Dalio said the Fed has a tradeoff between strengthening the economy and controlling inflation. "They will tighten monetary policy and take away credit until the economic pain is greater than the inflation pain," he said.

☆ The Fed raising rates to over 5% wouldn't be surprising, former Treasury Secretary Larry Summers says
▼ + stars: | 2022-09-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed may raise its policy rate as high as 5%, former Treasury Secretary Larry Summers said. Despite the volatility that could bring to stocks, the Fed risks making a policy error if doesn't go far enought to contain inflation. "The Fed has to be prepared to stay the course," Summers warned. Economists think that will likely take a while, given that inflation is still flying sky-high at 8.3%. "So I think that lesson that in terms of minimizing the risk of a stagflationary catastrophe, the Fed has to be prepared to stay the course."

REUTERS/Brendan McDermid/File PhotoSept 19 (Reuters) - Just months ago, investors worried the Federal Reserve was not fighting inflation aggressively enough. Several jumbo rate hikes later, some now fear the Fed will plunge the economy into recession by tightening monetary policy too quickly. Investors are also pricing in meatier rate hikes down the road, with the terminal rate for U.S. fed funds now at 4.4%. read moreDoubleLine’s Chief Executive Jeffrey Gundlach, who had in June criticized the Fed for moving too slowly, told CNBC last week he was worried the Fed might hike rates too far. Some investors think the economy may be resilient enough to withstand a more aggressive Fed.

☆ The odds of the Fed sticking a soft landing are falling, and the global economy may enter an earnings recession in the next few months, Charles Schwab says
▼ + stars: | 2022-09-19 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The Fed is becoming less likely to stick a soft landing as it remains hawkish amid high inflation, Charles Schwab warned. Global economic data is also showing signs of an earnings recession in the coming months, analysts said. "The problem with an aggressive Fed is that its moves could push an already slowing economy into recession." A difference of that caliber between the LEI and CPI is historically indicative of a recession, analysts said, as it was in the 2020, 2008, and the 2001 recessions. FedEx shares sank 24% last week after the shipping giant guided its quarterly profit much lower due to the speed of worsening in the global economy.

☆ Fear and loathing on Wall Street: Inside the paranoid, hyper-competitive onslaught to prevent quant traders from defecting to rivals
▼ + stars: | 2022-07-31 | by ( Alex Morrell | ) www.businessinsider.com time to read: +23 min

Current and former employees at prominent quant trading operations spoke to Insider anonymously for this story, citing fear of legal reprisals. "At the NSA, the penalty for leaking is twenty-five years in prison," Simons liked to tell employees, according to Gregory Zuckerman's book "The Man Who Solved the Market." In the early 2000s, quant noncompetes were narrower and shorter — six to nine months was industry standard, quant recruiters who had to navigate these obstacles told Insider. But it has aggressively pursued employees it believes have crossed the firm, according to court filings and media reports. Absent such changes, quant noncompetes will likely continue to proliferate with little resistance from employees.

Persons: Ken Griffin, they'd, It's, Matt Moye, they've, David Marshall, Jim Simons, George Soros, John Paulson, Philip Falcone, Jonathan Ernst, RenTech, Simons, Gregory Zuckerman's, Moye, quant, Pavel Volfbeyn, Alexander Belopolsky, spooked, Eric Wepsic, Shaw, —, Izzy Englander, Rick Wastrom, Smith Hanley, Jane Street burgeoned, Peter Friedman, Brennan Hughes, Griffin —, They've, Friedman, Chase Lochmiller, Ray Dalio, Jane Street, Hughes, Samuel Estreicher, Estreicher, I'm, David, Wastrom, Marshall, noncompetes Organizations: Citadel Securities, Renaissance Technologies, Citadel, St John's Law School, Center for Labor, Employment, REUTERS, NSA, Fund, RenTech, Millennium Management, Millennium, D.E, Trading, Integra Advisors, Wall, Google, Sigma, Polychain, Getty, Bridgewater Associates, National Labor Relations Board, Schonfeld Strategic Advisors, Group, New York University, school's Center for Labor, John's Law, —, New Locations: America, Bridgewater, New York, Hudson, Riker's Island, Houston, Chicago, Connecticut, — California, St, New York , Illinois

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