Bill Ackman interviews Ray Dalio

Bill Ackman interviews Ray Dalio

Billionaire Ray Dalio, the founder of $160 billion hedge fund behemoth Bridgewater Associates, talked with Pershing Square's Bill Ackman at the Harbor Investment Conference. The discussion started with a macro focus. Ackman asked Dalio how he manages $160 billion in the environment of low interest rates, etc.

He said that he thinks it's because he could be long and short anything in the world and he’s long and short practically everything. Dalio said that he makes use of a lot of ‘artificial intelligence’ while approaching his portfolio.

Dalio said that he thinks about the macro environment in 2008 and also about how asset prices are so much higher now than earlier.

How returns are so much lower and he is also surprised about how Ackman manages it, he added. Ackman described it as an ‘interesting interviewee approach’.

According to Ackman, they look for quality businesses in order that commodity prices and interest rates can increase and decrease. He also said that he seeks businesses that haven't been run well, so that he can get involved and make changes from a management level. Dalio was also asked regarding price.

"When we think about a 2008, a 2008 could happen again...When I think about my job, you're finding good value...I try to find value. When I'm thinking about those macro influences, they can change. I just was curious when we exchanged thoughts”, said Ackman. Dalio was also asked how he invests and makes money. Dalio answered that he makes investments in 120 different markets.

The Harbor Investment Conference is a yearly event, in which investors come together to share trade ideas, while raising money for the Boys & Girls' Harbor.


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