Ray Dalio sells final Bridgewater stake after predicting debt collapse
Main Idea
Ray Dalio sells his final stake in Bridgewater while continuing to warn about economic collapse and advocating for Bitcoin and gold investments.
Key Points
1. Ray Dalio sold his remaining stake in Bridgewater, the hedge fund he founded 50 years ago, as reported by The Wall Street Journal.
2. Dalio stepped down as Bridgewater CEO in 2017 and left as chairman by the end of 2021.
3. He has warned about economic risks, including the possibility of the US facing a debt crisis if the budget deficit isn't reduced to 3% of GDP.
4. In late July, Dalio recommended allocating up to 15% of investments into Bitcoin or gold for optimal risk-adjusted returns, a significant increase from his previous 2% suggestion.
5. Dalio has previously described Bitcoin as a speculative long-duration option, though he historically preferred gold over Bitcoin.
6. His past economic predictions, such as a 1982 global depression forecast, were incorrect and nearly bankrupted Bridgewater.
Description
While continuing to voice economic warnings, Bridgewater founder Ray Dalio recently increased his recommended allocation to Bitcoin and gold to 15%.
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