The World's Best Hedge Fund Manager Paid A Huge Compliment To Obama's Recovery Team

Ray Dalio, founder of the world's most successful hedge fund, Bridgewater Pure Alpha, disagrees with most US hedge fund honchos.

In a wide ranging interview with The Economist, Dalio said
“THE most beautiful deleveraging yet seen” is how Ray Dalio describes what is now going on in America’s economy. As America has gone through the necessary process of reducing its debt-to-income ratio since the financial crash of 2008, he reckons its policymakers have done well in mixing painful stuff like debt restructuring with injections of cash to keep demand growing. Europe’s deleveraging, by contrast, is “ugly”.

Mr Dalio’s views are taken seriously. He made a fortune betting before the crash that the world had taken on too much debt and would need to slash it. Last year alone, his Bridgewater Pure Alpha fund earned its investors $13.8 billion, taking its total gains since it opened in 1975 to $35.8 billion, more than any other hedge fund ever, including the previous record-holder, George Soros’s Quantum Endowment Fund….”

Read the rest at http://www.economist.com/node/21549968