After relinquishing control of the world’s largest hedge fund, Ray DalíOh, the founder of Bridgewater Associates, said he will continue to do the most exciting thing he has ever done – play the markets.
“I will play the markets until I die because it is the most exciting thing I have done since I was 12 and I will pass on my offer through mentoring and philanthropy because that is the most meaningful thing I can do,” Dalio said in his tweet.
I will play the markets until I die because it is the most exciting thing I have done since I was 12 and I will pass on what I have to offer through mentoring and philanthropy because that is the most meaningful thing I can do – (4/ 5)
— Ray Dalio (@RayDalio) October 5, 2022
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Descent: On September 30, Dalio vested all of his voting rights on the board and resigned from his role as one of Bridgewater’s three co-chief investment officers.
“Thank you all! I am overwhelmed by the congratulations and heartfelt wishes that come as I hand over control of Bridgewater to my next generation partners and transitioned into a new phase as a mentor, investor and board member,” tweeted Dalio.
Dalio was vocal on social media for his take on the global economic environment. On Tuesday he quoted the legendary economist John Maynard Keynes to express what he thinks about cash as an asset in the current economic environment.
“As attributed to John Maynard Keynes, he said: ‘If the facts change, I change my mind. What are you doing, sir?’ In that sense, the facts have changed and I’ve changed my mind about cash as an asset: I no longer think cash is trash,” Dalio said.
Why it matters: His comments are gaining momentum as investments ranging from equities to bonds have taken a hit as the US Federal Reserve continues to maintain its hawkish tone. That SPDR S&P 500 ETF Trust
SPY has lost over 21% since the beginning of 2022, while the Vanguard Total Bond Market…
