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☆ GOP Senate candidate Dave McCormick drops 'pro-life' rhetoric from his website as party strategists urge shift on abortion messaging
▼ + stars: | 2023-09-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

Dave McCormick struck an old "Issues" page from his website, including a section on abortion. He's mounting a second Senate bid in Pennsylvania as the GOP mulls a shift in abortion messaging. "Dave is staunchly pro-life and believes that life begins at conception," read the old "Issues" pages, according to the Internet Archive. "I do accept three exceptions... rape, incest, and the life of the mother," McCormick told attendees, according to the audio. A broader shift in abortion messagingMcCormick is launching his second campaign as party leaders and strategists mull a shift in messaging on abortion.

Persons: Dave McCormick, McCormick, —, Dave, Mehmet Oz, Sen, Bob Casey, Elizabeth Gregory, hasn't, Gregory, Casey, Roe, Wade, @SenBobCasey, Ronald Reagan, Donald Trump, mull, Republican Sen, Kevin Cramer of North, David McCormick, Maddy McDaniel, It's Organizations: GOP, Service, Internet, Life, Bridgewater Associates, Trump, Democratic, NBC News, Republican, NBC, Republicans, Pennsylvania Democratic Party Locations: Pennsylvania, Washington , DC, Kevin Cramer of North Dakota

☆ BlackRock's Rieder thinks investors should believe the Fed that it's going to hike again
▼ + stars: | 2023-09-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

"You've got to take them at their word that they want to get another 25" basis points, said the asset management giant's CIO of global fixed income. BlackRock fixed income chief Rick Rieder thinks the Federal Reserve can stop raising interest rates, though it probably won't. The fed funds rate, used as a benchmark for many forms of short-term debt, currently is targeted in a range between 5.25%-5.50%. "I love commercial paper," Rieder said. Rieder said he expects the Fed to start cutting at some point, but probably not until the latter half of 2024.

Persons: You've, you've, Rieder, Rick Rieder, Rebecca Patterson, Ray Organizations: Alpha, BlackRock, Economic Education, Delivering Alpha, Council for Economic Education, Bridgewater Associates, AA, Fed Locations: BlackRock

☆ Ray Dalio says the U.S. is going to have a debt crisis
▼ + stars: | 2023-09-28 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Billionaire investor Ray Dalio is watching closely the "risky" U.S. fiscal situation. "We're going to have a debt crisis in this country," the founder of hedge fund Bridgewater Associates said in an interview with CNBC's Sara Eisen that aired on Thursday. U.S. debt levels surpassed $33 trillion for the first time this month as lawmakers negotiate a U.S. spending bill before the Oct. 1 deadline. Dalio is concerned there are more headwinds for the economy than just high debt levels, saying growth could fall to zero, give or take 1% or 2%. "I think you're going to get a meaningful slowing of the economy," Dalio said.

Persons: Ray Dalio, CNBC's Sara Eisen, Dalio Organizations: Bridgewater Associates, Association, Treasury Department, Investors Locations: U.S

☆ Bridgewater's Ray Dalio warns of impending debt crisis in US, CNBC reports
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +1 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 RightsSept 28 (Reuters) - Ray Dalio believes the United States is going to have a debt crisis and is closely watching the "risky" fiscal situation, CNBC reported on Thursday, citing an interview with the billionaire investor. The country's debt has been under the spotlight in recent months after political brinkmanship around the debt limit earlier this year brought the U.S. close to a default. Though the situation was averted, such partisan conflicts could hurt the country's fiscal reputation, analysts have said. Earlier this week, Fitch's peer Moody's said a government shutdown would harm the country's credit in a stern warning.

Persons: Ray Dalio, Bridgewater's, Brendan McDermid, Fitch, Moody's, Pritam Biswas, Shinjini Organizations: REUTERS, CNBC, Bridgewater Associates, Thomson Locations: New York City, U.S, United States, Bengaluru

Amazon's employees and cloud customers will gain early access to technology from Anthropic as part of the deal, which they can infuse into their businesses. They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Persons: Anthropic, OpenAI, Adam Selipsky, Dario Amodei, Selipsky, Claude, Amodei, Jeffrey Dastin, Kenneth Li Organizations: FRANCISCO, Amazon, Microsoft, Google, Amazon's, GOOGLE, LexisNexis, Bridgewater Associates, Thomson Locations: Anthropic, San Francisco

They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Persons: Anthropic, OpenAI, Adam Selipsky, Dario Amodei, Pascal, Selipsky, Claude, Amodei, Jeffrey Dastin, Kenneth Li Organizations: FRANCISCO, Amazon, Microsoft, Google, Amazon's, REUTERS, LexisNexis, Bridgewater Associates, Thomson Locations: Anthropic, San Francisco

☆ So many people want to attend a Middle East investment conference dubbed 'Davos in the desert' that they're charging $15,000 to get in the door
▼ + stars: | 2023-09-23 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

About 5,000 delegates are paying $15,000 each to attend an investment conference in Riyadh next month. Growing interest in the conference also underlines Saudi Arabia's rising global influence. The annual event is the largest investment and business conference in the Middle East, and has been compared to Davos – the Swiss ski resort that hosts the World Economic Forum each January. As well as being a forum for discussion, the event is also an accelerator for Saudi investment opportunities. At last year's conference, more than 28 investment deals worth over $9 billion were signed, according to the US-Saudi Business Council.

Persons: Goldman Sachs, Sam Bankman, Jared Kushner, execs, Jamal Khashoggi, Prince Mohammed bin Salman's Organizations: Service, Future Investment Initiative, Street Journal, Economic, Bridgewater Associates, Saudi Business Council, Investment Initiative, FII Institute, Saudi Locations: Riyadh, Saudi, Wall, Silicon, Eastern, Davos, Saudi Arabian, Blackstone, BlackRock, Istanbul, FAYEZ, Saudi Arabia

☆ The inflation threat isn't over yet – and the Fed won't ease up in fighting it overnight, the co-chief investor of the world's largest hedge fund says
▼ + stars: | 2023-09-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The inflation threat isn't over and interest rates won't sink overnight, Bridgewater's co-CIO says. Karen Karniol-Tambour sees little reason for rate cuts with a strong economy and sticky inflation. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Indeed, the Fed may realize that inflation isn't fading, and markets are pricing in rate cuts that it's uncomfortable making, Karniol-Tambour said. Even so, bond investors are pricing in a "pretty good number of rate cuts" starting next year, Karniol-Tambour said.

Persons: Bridgewater's, Karen Karniol, Tambour, David Rubenstein, Jerome Powell, Ray Dalio, Nir Bar Dea, CIOs, Greg Jensen, Bob Prince Organizations: Service, Bridgewater Associates, Bloomberg Locations: Wall, Silicon

HARRISBURG, Pa. (AP) — Republican David McCormick is expected to announce Thursday that he will enter Pennsylvania's U.S. Senate race and make his second bid for the office, this time to take on Democratic Sen. Bob Casey after losing in last year’s crowded Republican primary. McCormick's aides have sent invites to a “special announcement” by McCormick at the Heinz History Center in Pittsburgh at 5 p.m. McCormick, 58, was heavily recruited to run again by the party establishment and, thus far, has a clear GOP primary field. He is a stalwart of Pennsylvania’s Democratic Party — the son of a former two-term governor and Pennsylvania's longest-ever serving Democrat in the Senate. McCormick, who grew up near Bloomsburg, is the son of Pennsylvania’s first state university system chancellor.

Persons: David McCormick, Democratic Sen, Bob Casey, McCormick's, McCormick, Casey, West Virginia —, Republican Sen, Pat Toomey, Donald Trump, Mehmet Oz, John Fettermanbeat Oz, —, Joe Biden, Scranton . McCormick, Pennsylvania’s, George W, ___, Marc Levy Organizations: —, Pennsylvania's, Senate, Democratic, Republican, Heinz, Center, Associated Press, White, West Virginia, Democratic Party —, Star, FreeMarkets, Bridgewater Associates, Twitter Locations: HARRISBURG, Pa, Pennsylvania's U.S, Pittsburgh, Pennsylvania, — Montana , Ohio, West, Pennsylvania's, Scranton ., Bloomsburg, Connecticut

☆ Republican Dave McCormick jumps into the critical Pennsylvania Senate race
▼ + stars: | 2023-09-21 | by ( Allan Smith | Bridget Bowman | ) www.cnbc.com time to read: +6 min

"Obviously, he's a candidate who has completely united the grassroots," a national Republican strategist, speaking on condition of anonymity as he was not authorized to discuss the candidacy, said. In a background call with reporters, a McCormick campaign strategist said the candidate "will address" those concerns "head on and directly." And the McCormick campaign strategist said the candidate will enter the race with the support of each Republican member of Pennsylvania's congressional delegation. "Dave McCormick has done a remarkable job of unifying the grassroots in Pennsylvania," Montana Sen. Steve Daines, chairman of the National Republican Senatorial Committee, said in a statement. "His ability to unite both the grassroots and the establishment is extremely impressive," the national Republican strategist said.

Persons: Dave McCormick, Sen, Bob Casey, McCormick, Republican Mehmet Oz, I've, Doug Mastriano, he's, Casey, McCormick —, George W, —, Oz, Donald Trump, Trump, Pat Toomey, John Fetterman, Fetterman, Mastriano, Montana Sen, Steve Daines, Dave, Bob Casey Sr, Joe Biden Organizations: Republican, GOP, Keystone State, United States Senate, Republican Party, Army's, Airborne Division, Wall Street Republican, Associated Press, AP, National Republican Senatorial, Republicans, Trump, Washington , D.C Locations: Pittsburgh, Pennsylvania, U.S, New Jersey, Connecticut, Montana, West, Washington ,, Harrisburg

☆ Former Bridgewater CEO Dave McCormick would get big money backing for Pennsylvania U.S. Senate run
▼ + stars: | 2023-09-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Dave McCormick, Republican U.S. Senate candidate from Pennsylvania , greets supporters during a campaign event with Sen. Ted Cruz, R-Texas, at Lehigh Valley Sporting Clays in Coplay, Pa., on Tuesday, January 25, 2022. The last time McCormick ran for Senate, his chief rival in the Republican primary was TV host Dr. Mehment Oz. Christian Ferry, who previously worked for Republican Sen. Lindsey Graham and late GOP Sen. John McCain, said, "Every cycle these totals continue to go up." McCormick has reportedly been promised the support of the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell of Kentucky. Burch paid approximately $16 million for the estate, according to Newsday.

Persons: Dave McCormick, Sen, Ted Cruz, Dave McCormick's, Tory Burch, McCormick, Goldman Sachs, Lloyd Blankfein, Steven Mnuchin, Gary Cohn, David Solomon, Bob Steel, Perella Weinberg, Mnuchin, Donald Trump, Cohn, Bob Casey, Paul Singer, Steve Schwarzman, Burch, Mnuchin Cohn, Singer, Schwarzman, Steel, Dave, agains Casey, Dina Powell McCormick, Dina, Democrat John Fetterman, Mehment Oz, OpenSecrets . Oz, Donald Trump . Oz, Casey, Oz, Alex Conant, Republican Sen, Marco Rubio, It's, Lindsey Graham, GOP Sen, John McCain, Mitch McConnell of Organizations: Republican U.S, Lehigh Valley, U.S, Senate, Bridgewater Associates, Democratic, Elliot Investment Management, Blackstone, CNBC, Steel, NBC News, Associated Press, McCormick, Keystone, Bush, Treasury, Pennsylvania Senate, Democrat, Republican, GOP, PAC, Bridgewater, Pennsylvania Democratic Party, Fund, Prosperity, that's, Koch Industries, Hamptons, Newsday Locations: Republican, Pennsylvania, Texas, Coplay, Pa, Connecticut, Pittsburgh, Trump, OpenSecrets ., Mitch McConnell of Kentucky, Southampton, Long, , New York, Palm Beach

☆ Ray Dalio says AI will greatly disrupt in our lives within a year—you should be both excited and scared of it
▼ + stars: | 2023-09-20 | by ( Ashton Jackson | ) www.cnbc.com time to read: +2 min

Billionaire investor Ray Dalio is sure that artificial intelligence will soon be a "great disruptor" in all of our lives — for both better and worse. "All these changes are going to happen in the next five years," Dalio, the founder of hedge fund giant Bridgewater Associates, added. I mean that you're going to see [changes] next year ... the next year, [even bigger] changes. That could open up a lane of opportunity for workers, who can learn and use AI skills to make some extra cash. Whether you're excited, curious or flat-out scared, "now would be the time to increase your knowledge," she added.

Persons: Ray Dalio, Dalio, ChatGPT, they're, Susan Gonzales, Gonzales Organizations: Bridgewater Associates, Alliance, Television Producers, CNBC

☆ Ray Dalio warns of 'great disruptions,' shares top tips for new investors
▼ + stars: | 2023-09-18 | by ( Charmaine Jacob | ) www.cnbc.com time to read: 1 min

Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. U.S. billionaire Ray Dalio says new investors should have a diversified portfolio as economic and geopolitical headwinds persist. "I would like to have diversification, because what I don't know is going to be much greater than what I do know," said Dalio, founder of one of the world's largest hedge funds, Bridgewater Associates. "Pay attention to the implications of the great disruptions that are going to take place because the world will be radically different in five years. And it's going to become radically different year by year," he explained.

Persons: Ray Dalio Organizations: Forbes, Bridgewater Associates, Milken Institute Asia Summit Locations: New York City . U.S, Singapore

☆ The market's heaviest hitters are sounding the alarm on US debt
▼ + stars: | 2023-09-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Three market experts have cited concern that growing US debt will send interest rates up. US debt supply will only grow, as a recession would expand the federal deficit, Jeffrey Gundlach added. The warnings come as federal deficits have exploded in recent years, sharply elevating the trajectory of US debt. AdvertisementAdvertisementThough interest rate gains would help drive demand for bonds, they make debt servicing more costly. Bill GrossThe "bond king" who drove Pimco's fixed-income success had similar apprehensions about the debt market.

Persons: Ray Dalio, Bill Gross, Jeffrey Gundlach, Dalio, Pimco's, Gross, I'm, Gundlach Organizations: Service, Treasury Department, Federal Reserve, Wall Street, Bridgewater Associates, Milken Institute Asia Summit, Treasury, Fox Business Locations: Wall, Silicon, Singapore

☆ Ray Dalio says to hold cash 'temporarily' — but don’t buy debt and bonds
▼ + stars: | 2023-09-15 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Milken Institute Conference Bloomberg | Bloomberg | Getty ImagesAs concerns mount over rising interest rates and inflation levels, billionaire investor Ray Dalio says he prefers to hold cash for now, not bonds. "Temporarily, right now, cash I think is good … and the interest rates are fine. I don't think [it] will be sustained that way," Dalio told an audience at the Milken Institute Asia Summit in Singapore on Thursday. But the real problem comes when individuals or investors don't hold the bonds, because it comes as a supply-demand, one man's debts or another man's assets," he explained. Dalio cautioned that investors will sell their bonds if they are not receiving real interest rates that are high enough.

Persons: Ray Dalio, Dalio, Dalio's Organizations: Bridgewater Associates, Milken Institute, Bloomberg, Getty, Milken Institute Asia Summit, Treasury Locations: Singapore

☆ Cash vs. stocks: The pros weigh in on where to invest for the rest of the year
▼ + stars: | 2023-09-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

"As cash yields remain elevated and inflation has cooled significantly from last year's levels, cash yields moved into positive territory on a real, inflation-adjusted basis after a few years of negative real yields," said Veronica Willis, global investment strategist at the firm. The pros weigh in on whether it's a good idea to stay in cash for the remainder of the year. Cash to 'outperform' stocks In a Sept. 7 note, Barclays said it believes cash will, in the fourth quarter, outperform stocks for a second straight quarter. So, for a second straight quarter, we prefer the company of cash over stocks and bonds," Barclays wrote, describing major asset classes as "still unattractive." "If short-term interest rates fall, short-term investments or cash investors will need to reinvest at a lower rate, reducing future returns.

Persons: it's, Veronica Willis, Cash, David Kostin, CNBC's, JPMorgan, Ray Dalio, Willis, Schroders, —, Balakrishner, Michael Bloom Organizations: U.S . Federal, Treasury, Fargo Investment Institute, Barclays, Billionaire, Bridgewater Associates, Milken Institute Asia Summit, Wells, Wells Fargo Investment Institute Locations: Fargo, U.S, Singapore, Wells Fargo

☆ Billionaire Ray Dalio Pushes for Return to Hedge Fund in Succession Clash
▼ + stars: | 2023-09-15 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

Less than a year after retiring, Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, is threatening his former colleagues with the one thing they have worked hard to prevent: his return. The billionaire investor, who is 74, doesn’t necessarily want to come back to run the firm he founded 50 years ago. Bridgewater’s main fund has been on a downward slide since Mr. Dalio’s retirement. Some of Bridgewater’s top staff and board members, including its chief executive, Nir Bar Dea, whom Mr. Dalio appointed, have repeatedly told him that they will quit if he interferes. They fear that Mr. Dalio might use the proposed fund as a way to come back and reassert control, according to people briefed on internal deliberations but not authorized to speak publicly.

Persons: Ray Dalio, Dalio, Dalio’s, Nir Bar Dea Organizations: Bridgewater Associates Locations: Bridgewater

☆ Insider Today: Your knockoff's hidden cost
▼ + stars: | 2023-09-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Tech: What could become of VMware employees when Broadcom's acquisition closes. What could become of VMware employees when Broadcom's acquisition closes. AdvertisementAdvertisementSo, instead of visiting the company's website, you head to one of the many e-commerce sites offering knockoffs. 3 things in techRaghu Raghuram VMwareLeaked email: The fate of VMware employees as Broadcom acquisition closes. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: Sen, Mitt Romney, Chelsea Jia Feng, Insider's Jennifer Ortakales Dawkins, Counterfeits, Birkin, Dow Jones, Michael M, Ray Dalio, Raghu, —, chatbot, Brooks Kraft, Vivek, crowdfunding, Joe Raedle, JW Anderson, Molly Goddard, Julia Pugachevsky, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Tech, VMware, Yorkers, Bridgewater Associates, Broadcom, Apple, Brooks Kraft LLC, Burberry, Riot Fest Chicago, Foo Fighters, Postal Service, Cutie, Happy National Hispanic, Costa Rica Blue Locations: Wall, Silicon, New York, Queens, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Spain, New York City, San Diego, London

☆ What Wall Street is telling employees about returning to the office, from Goldman Sachs to JPMorgan and Blackstone
▼ + stars: | 2023-09-04 | by ( Kaja Whitehouse | Michelle Abrego | ) www.businessinsider.com time to read: +11 min

According to Goldman's chief economist, Jan Hatzius, some 25% of all US workers work from home at least part of the week. So, which Wall Street firms are still letting employees work from home at least part of the time? On days employees are in, the firm focuses on taking "advantage of our shared location," it reads. At that time, the firm called for its employees to come into the office a minimum of three days a week. Since then, most employees have been in the office throughout the week, according to a person familiar with the firm.

Persons: Goldman Sachs, David Solomon, Citadel's Ken Griffin, Joe Biden, Jan Hatzius, Hatzius, Jamie Dimon, Goldman, Goldman Sachs Goldman Sachs, —, Dimon, JPMorgan Gretchen Ertl, Jane Fraser, she's, Fraser, they're, Citigroup Patrick, Fallon, Brian T, Moynihan, Bank of America Shannon Stapleton, Reuters Morgan Stanley Morgan Stanley's, James Gorman, Gorman, Gorman doesn't, Morgan Stanley, we're, James Gorman SAUL LOEB, Larry Fink, Larry Fink Spencer Platt, Citadel's Griffin, Griffin, Raj Mahajan, Ken Griffin, Milken, Mike Blake, Blackstone, Stephen Schwarzman Roy Rochlin, Nir Bar Dea, Izzy Englander's Organizations: JPMorgan, Blackstone, Morning, Citadel, Bloomberg, Business, Deloitte, JPMorgan JPMorgan, Goldman, Citigroup, Street, Bank, Economic, Getty Images Bank of America Bank of, Bank of America, Reuters, Getty, BlackRock BlackRock, Yards, Labor, Fox, BlackRock, Citadel Securities, Blackstone Blackstone, Bridgewater Bridgewater Associates, Bridgewater Associates, Bridgewater Locations: Citadel, Davos, Switzerland, New York City

☆ Billionaire investor Ray Dalio says India's moon landing demonstrates its economic 'ascendance'
▼ + stars: | 2023-08-25 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Ray Dalio heralded India's economic potential following its moon landing on Wednesday. The Chandrayaan-3 landing was "one of many straws in the wind showing its ascendance," he said. "India's successful lunar mission ... is another one of many straws in the wind showing its ascendance," Dalio said in a post on X. The landing meant India became the first country to reach what is thought to be the most water-rich region on the moon – beating Russia, China, and the US. Dalio has hailed India as the next big global investing opportunity previously amid worsening relations between Washington and Beijing.

Persons: Ray Dalio, Dalio, Deng Xiaoping, Narendra Modi, Elon Musk, Goldman Sachs Organizations: Service, Bridgewater Associates, Indian, Elon Locations: Bridgewater, India, Wall, Silicon, China, Russia, Washington, Beijing

☆ Dalio says China is overdue in reducing its debt
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 17 (Reuters) - Legendary investor Ray Dalio, a big enthusiast and investor in China, said on Thursday the world's second largest economy is overdue in conducting a "big debt restructuring." Dalio said deleveraging is never an easy task, but in the case of China it can be more manageable because most of its debt is in domestic currency and is held by its citizens. Very popular among Chinese investors, Dalio is a self-proclaimed Sinophile with long connections with China. Last year, Bridgewater doubled its fund assets in China to more than 20 billion yuan ($2.74 billion), cementing its position as the biggest foreign hedge fund in the country. The hedge fund launched its first onshore China fund in 2018 and, since then, two other funds have been established.

Persons: Ray Dalio, Bridgewater's, Brendan McDermid, Zhu Rongji, Dalio, deleveraging, Carolina Mandl, Sandra Maler Organizations: REUTERS, Chinese, Bridgewater Associates, Bridgewater, Carolina, Thomson Locations: New York City, U.S, China, . Connecticut, New York

☆ The scientist behind IBM Watson has raised $60 million for his AI startup in New York
▼ + stars: | 2023-08-17 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

David Ferrucci, a prominent artificial intelligence researcher who led the team that created IBM Watson , has raised nearly $60 million for his AI startup called Elemental Cognition, according to a regulatory filing. The filing on Thursday says the company sold $59.95 million worth of equity to 17 investors and plans to raise another $5.75 million. Ferrucci led IBM Watson between 2006 and the end of 2012, during which time the computer system famously won "Jeopardy!" He then ran AI research for Bridgewater Associates, one of the world's largest hedge funds. In January of last year, the company sold its Watson Health unit for an undisclosed amount to private equity firm Francisco Partners.

Persons: David Ferrucci, Watson, Cora, Ferrucci, IBM Watson, David Shepler, Eric Brown, Mike Barborak, Jim Breyer, Sam Palmisano, Greg Jensen, Bridgewater's, Geoff Yang, OpenAI's Organizations: IBM, Bridgewater Associates, Rensselaer Polytechnic Institute, Bridgewater, Breyer Capital, Facebook, Redpoint Ventures, CNBC, Investors, Health, Francisco Partners Locations: New York, New, Helmsley, guardrails, China

A continued rally in stocks forced many hedge funds to unwind their bets against equities last month. US BOND MARKET LIQUIDITYBridgewater actively bets on the direction of various types of securities — including stocks, bonds, commodities and currencies — by predicting macroeconomic trends. He said that liquidity in the U.S. government bond market was getting worse, as the Treasury increases bond issuance. Bridgewater's Pure Alpha 12% volatility fund gained 2.5% in the year through Aug. 11, a third source familiar with the matter said, while the Defensive Alpha fund, less dependent on equities, rose 2.1%. Since it was launched in 1991, Pure Alpha 12% has generated 7.7% net total returns annually, according to the same source.

Persons: Ray Dalio, Greg Jensen, Bridgewater's, Nell Mackenzie, Ira Iosebashvili, Michelle Price, Emelia Organizations: U.S ., Singapore, Bridgewater Associates, Reuters, Nasdaq, Treasury, Alpha, Hedge Fund Research, Thomson Locations: Bridgewater, U.S, London, Carolina, New York

☆ The one thing Elon Musk, Ray Dalio, Apple and Goldman Sachs agree on: India
▼ + stars: | 2023-07-30 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +5 min

The nation's booming tech scene, buoyant stock market, and youthful population are just some of the factors going for it. Billionaire investor Ray Dalio has said the country is ready for rapid growth, while Elon Musk has highlighted the prospect of Tesla building a factory there. Apple CEO Tim Cook has also voiced his optimism toward India, while Goldman Sachs predicts the South Asian economy to surpass the US in size by 2075. Goldman Sachs expects the South Asian nation's GDP to surge to $52.5 trillion by then, from $3.4 trillion at the end of 2022. His sanguineness toward India has seen Apple open its first two stores in the country earlier this year.

Persons: Ray Dalio, Elon Musk, Tim Cook, Goldman Sachs, Here's, Tesla, Musk, Narendra Modi, Modi, Dalio, Deng Xiaoping, Mark Mobius, Mobius, —, He's Organizations: Service, Billionaire, Apple, Wall, Elon, Twitter, Reuters, Bridgewater Associates, Bloomberg, Big Tech Locations: India, Wall, Silicon, China, Washington, Beijing

☆ Billionaire investor Ken Fisher 'debunks' debt-crisis risk Ray Dalio warned of - borrowings are 'not the problem you think it is'
▼ + stars: | 2023-07-18 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Veteran investor Ken Fisher has waved aside concerns that the US is on the brink of a debt crisis. In contrast, billionaire investor Ray Dalio recently warned that the nation is at the start of a "big cycle debt crisis". This astronomical figure has worried many Americans: high-profile investor Ray Dalio warned the nation is at the start of a "late, big cycle debt crisis." Among the most vocal was Bridgewater Associates founder Dalio, who rated the debt-ceiling deal Grade D and predicted the start of a debt crisis, caused by a demand-supply mismatch. "In my opinion, we are at the beginning of a very classic late, big cycle debt crisis, when the supply-demand gap, when you are producing too much debt and have a shortage of buyers," Dalio said last month.

Persons: Ken Fisher, Fisher, Ray Dalio, Dalio Organizations: Service, Privacy, Treasury, Fisher Investments, Bridgewater Associates Locations: Wall, Silicon

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