Bridgewater Associates Portfolio - Stockpickr! Your Source for Stock Ideas

Bridgewater Associates

36833 views

TheStreet.com Rating: C

Rate Now:

average rating: 3.88 / 9 ratings

printer friendly

send to a friend

DESCRIPTION:

Date updated:05-26-2007

From Interview Barron's 5-28-07

"Ray Dalio has been at the forefront of change in the hedge-fund and investing world since he started Bridgewater Associates of Westport, Conn., more than 30 years ago. A culture that rewards innovative and pioneering work has resulted in powerful long-term performance. The dedication to excellence fostered by Dalio has made Bridgewater a global powerhouse, with $160 billion under management and clients that range from central banks and foreign governments to pension funds and endowments.

Barron's: How would you describe your overall outlook?

Ray: Bond yields are going to go up by 75-100 basis points [0.75 to one percentage point], and credit spreads will widen. There are three really big forces driving the markets and driving the global economy, and if you could imagine those forces moving through time and interacting with themselves and each other, you will understand my view of the world. There is an economic market cycle, there is the China and oil factor, and there is leverage. We are in the early stages of the late part of the economic cycle. The late part of the cycle is when inflation begins trending up, and the tradeoff between inflation and growth becomes more acute, and central banks tighten monetary policy.

Barron's: What are you betting on in this environment?

Ray: We have anti-carry trades. We generally have bets on wider credit spreads. We have bets on interest rates rising, not declining. We are long commodities and we are long emerging-market currencies. And we expect to increase these positions with time.

Barron's: Who's really gaining here? It seems to me as hedge funds proliferate we are seeing more mediocre results.

Ray: Hedge funds and private-equity firms today are like the dot-coms in 2000: Ask for money and you'll get it. They bid up the prices of everything. The amount of money flowing is almost out of control, and it's making everything overvalued. A client of mine said it's like there are 11,000 planes in the sky and only 100 good pilots -- an accident is bound to happen. Just like the dot-com bust, the winners and losers will be sorted out but the technological advances won't stop. There is a greater differentiation of managers now than ever before. For example, practically all good managers are closed to new investment. And there is fee differentiation. The business has become much more technologically intensive and people intensive. It is much tougher for new boutiques to compete."

KO
Coca-cola Co (the
$49.66
0.00%
$49.01

No Analysis added

People owning KO also tend to own: AA AIG IBM INTC JNJ JPM MSFT

TheStreet.com Rating: B- What is this?

JNJ
Johnson & Johnson
$56.21
0.00%
$56.05

No Analysis added

People owning JNJ also tend to own: AA AIG IBM INTC JPM KO MSFT

TheStreet.com Rating: B What is this?

PEP
Pepsico Inc.
$55.37
0.00%
$53.47

No Analysis added

People owning PEP also tend to own: ADM AVP BF-B BTI CL CVS DEO

TheStreet.com Rating: B- What is this?

WMT
Wal-mart Stores
$49.93
0.00%
$50.38

No Analysis added

People owning WMT also tend to own: ABT DGX EPD FMD GSK JNJ JOSB

TheStreet.com Rating: B What is this?

XOM
Exxon Mobil Corp.
$72.92
0.00%
$71.44

No Analysis added

People owning XOM also tend to own: AA AIG IBM INTC JNJ JPM KO

TheStreet.com Rating: C+ What is this?

AIG
American Internat
$1.56
0.00%
$1.64

No Analysis added

People owning AIG also tend to own: AA IBM INTC JNJ JPM KO MSFT

TheStreet.com Rating: D- What is this?

MRK
Merck & Co.
$27.70
+0.62%
$27.51

No Analysis added

People owning MRK also tend to own: ACAS CLP HPQ PHI SHFL VZ BR

TheStreet.com Rating: C+ What is this?

MO
Altria Group Inc
$17.12
0.00%
$17.22

No Analysis added

People owning MO also tend to own: AA ALL APC BUD COP CVX DOW

TheStreet.com Rating: C What is this?

Page 1 of 4
1
2
3
4

No Blogs Found

Comments not available

Top Do-It-Yourself Portfolios
» agtest1
» Joy
» tsamanuli Portfolio 1
» brueckenc Portfolio 1
» HMH1
show all

Cramer's Take on Headline Stocks...

By Rebecca Corvino Posted at 12:47 p.m. EDT on July 6, 2009 Oil was in the red on Monday, sending stocks and the three major indices lower as well. Bank of America (...

07.06.09 | 12:48 PM

Top Tech Short-Squeeze Plays

By Fred Fuld Posted at 12:11 p.m. EDT on July 6, 2009 Revenue and earnings surprises can cause stocks to make sharp moves upwards, which in turn can set off a short sq...

07.06.09 | 12:11 PM

Rocket Stocks for the Week

By Jonas Elmerraji Posted at 11:07 a.m. EDT on July 6, 2009 As we approach the second week in July, the markets have done a good job of matching the summer heat by keep...

07.06.09 | 11:08 AM

Four Must-See Charts: Stem Cell ...

By Stockpickr Staff Posted on July 2, 2009 Developments in the stem cell world are starting to get very interesting. On Tuesday, General Electric (GE) signed an exc...

07.02.09 | 15:19 PM

Nymph's Trading Daily Trading Diary

04.13.09 | 01:10 AM From author Trading Nymph

General market Technical Analysi...

11.14.07 | 22:55 PM From author ZA

The Presidential/Political Thread

01.02.08 | 08:05 AM From author Dave Cox

Will black social ills take a ba...

11.22.08 | 18:53 PM From author Valerie Vecchio

more forums