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Ray Dalio / Bridgewater

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Bridgewater - Welcome to Bridgewater Associates, LP. Bridgewater manages approximately $150 billion in global investments for a wide array of institutional clients, including foreign governments and central banks, corporate and public pension funds, university endowments and charitable foundations. Approximately 1,400 people work at Bridgewater, which is based in Westport, Connecticut. Founded in 1975 out of a two-bedroom apartment, Bridgewater remains an independent, employee-run organization.

Throughout its 39-year history, Bridgewater has been recognized as a top-performing manager and an industry innovator, winning over 40 industry awards in the past five years alone. In both 2010 and 2011, Bridgewater ranked as the largest and best-performing hedge fund manager in the world and in both 2012 and 2013 Bridgewater was recognized for having earned its clients more than any other hedge fund in the history of the industry. Its clients and employees routinely give Bridgewater top satisfaction ratings in annual surveys.

CEO Speaker Series: A Conversation with Ray Dalio. Speaker: Ray Dalio, Founder and Co-Chief Investment Officer, Bridgewater Associates, L.P.Presider: Maria Bartiromo, Anchor, CNBC September 12, 2012, New York Council on Foreign Relations MODERATOR: Good morning, everyone. Thank you so much for joining us bright and early this morning. We appreciate it. Just want to say a few specific (sic) here in terms of our members. Please turn off your cellphones because it does interrupt the microphones. And we will talk for 30 minutes and then open it up to questions from all of you. We hope that you do have questions for Ray Dalio. RAY DALIO: I'm looking forward to it. MODERATOR: Great. Ray, you have a specific way of looking at the world and putting capital to work in the world based on your template and your approach to things.

DALIO: OK. MODERATOR: Even this huge financial crisis that we all suffered in 2008 -- in some sense, you were expecting some disrupter to the market. DALIO: So I don't -- yeah. MODERATOR: I love it. There's a transaction. A Conversation with Ray Dalio (Video)

Quarterly Outlook 2012

DEEP THOUGHTS FROM RAY DALIO. There Is No Joy In Muddlethroughville: World's Biggest Hedge Fund Is Bearish For 2012 Through 2028, And Is Long Gold. That Ray Dalio, famed head of the world's largest (and not one hit wonder unlike certain others) hedge fund has long been quite bearishly inclined has been no secret. For anyone who missed Dalio's must see interview (and transcript) with Charlie Rose we urge you to read this: "Dalio: "There Are No More Tools In The Tool Kit. " For everyone who is too lazy to watch the whole thing, or read the transcript, the WSJ reminds us once again that going into 2012 Dalio's Bridgewater, which may as well rename itself Bearwater, has not changed its tune.

In fact the CT hedge fund continues to see what we noted back in September is the greatest threat to the modern financial system: a debt overhang so large, at roughly $21 trillion, that one of 3 things will have to happen: a global debt restructuring/repudiation; global hyperinflation to inflate away this debt, or a one-time financial tax on all individuals amounting to roughly 30% of all wealth. From the WSJ: Which means what? A-template-for-understanding--ray-dalio-bridgewater. Ray Dalio: Man and machine.