My study of the Great Depression is the reason we anticipated the 2008 financial crisis. And I learned why.Īs a result of that, I always study what drove major economic and market movements in history. I was surprised that the stock market rose a lot, so I looked into history and I found that same thing happened in March 1933. I was working on the floor of the New York Stock Exchange. broke its promise to exchange dollars for gold so that it could print a lot of money, which led to the devaluation of the U.S. The first time that happened was in August 1971 when the U.S. What conditions and circumstances concern the United States right now that you want investors to understand, and why look to the past for answers?ĭalio: In my investing, I learned a lesson that many things that surprised me hadn’t happened in my lifetime but had happened before. MarketWatch: Your new book is the latest in a series where you share your fundamental principles for investing in and living with the world as it is - essentially ways to accept and play the hand you’re dealt. In this interview, which has been edited for clarity and length, Dalio offers insights about the similarities between the current economic and political cycle and previous ones, the disturbing external and internal threats to American democracy and influence, and how to and what to hold in your investment portfolio, including bitcoin, as history unfolds. Says Dalio: “ have to do three things: We have to earn more than we spend by being productive and get our finances in order we have to work well together economically and politically, and we have to avoid war with China.” How the world’s two most-formidable nations coexist - or not - is affecting and will continue to impact not only your wealth and opportunities in the 21st century but your children’s and their children’s as well. See: Ray Dalio says his China human-rights comments were misunderstood In almost 600 pages of narrative and charts, the book paints Dalio’s interpretation of the tectonic shifts now reshaping global politics and financial markets in ways that loudly echo the past but are yet to be determined - namely the competitive, complex relationship between the U.S.
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