Thursday, March 3, 2016

Bridgewater’s Ray Dalio Says ‘I’m Not Bearish on Stocks

I saw this interview on Bloomberg TV live this morning and do respect and agree with most of Ray Dalio's opinions on markets and debt cycles.  Normally, I would be suspicious of anything a manager of the world's largest hedge fund (Bridgewater) recommends, but Dalio is refreshingly candid in his analysis, which does include criticism of central bank monetary policies.

The interview might have been shocking or disappointing to most audiences, but it was very rational for me.  What was more revealing is the fact that Dalio explicitly said a 5%-10% allocation in gold is prudent for any asset portfolio diversification strategy.  Bloomberg conveniently left out that part of the interview in their article below.

The reasoning is crystal clear.  One of their "own" (i.e. revered financiers) went off the reservation and recommended gold.  Yet, while Bloomberg News published an article about the interview's contents, they conveniently refused to include that portion about gold in the article.  They covered diverse topics ranging from short-term debt cycles, long-term debt cycles, equities, credit, China, interest rates, the economy, monetary and fiscal policies, to inflation, but the article refuses to mention anything about gold, despite it being a core asset of Dalio's recommendation.

The anti-gold media bias is obvious for anybody alert enough to pick up on it--especially when coming from pro-Wall Street media propagandists like Bloomberg and CNBC.  That's exactly why I'm more thoroughly convinced than ever that gold's best days are ahead.

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