Ray Dalio in his post-interest-rate-hike survival bunker.
Late last year, Ray Dalio gave Janet Yellen that rarest of things from the hedge-fund universe: a pat on the back. The Bridgewater chief said he thought she was doing a bang-up job winding down the Fed’s stimulus program and managing the economy generally.
"Since our confidence that the Fed can be effective in tightening is greater than ever while our confidence in the Fed's ability to be effective in easing is less than ever, we think it would be best for the Fed to err on the side of being later and more delicate than normal," the men added.
"To be clear, we don't know—nor does the Fed know—exactly how much tightening will knock over the apple cart. What we do hope the Fed knows, which we don't know, is how exactly it will fix things if it knocks it over. We hope that they know that before they make a move that could knock over the apple cart."