Bridgewater Associates chief Ray Dalio has been doing some marketing recently, hitting to road to hawk his hardcover life’s work all the way to the top of the New York Times bestseller list (albeit briefly). But Ray hasn’t only been selling. He’s also been buying. Specifically, he’s been buying gold in exchange-traded fund form. And a lot of it.
This shouldn’t come as a surprise: The philosopher-hedge fund manager has been telling you for months that you should buy gold, because everything is awful and society is one especially ill-advised Donald Trump tweet away from completely unravelling and descending into bloody, chaotic anarchy, for those who survive the initial hydrogen bomb blasts and subsequent radiation poisoning. How nervous should we be about all this? Well, based on the scale of Ray’s gold buy, Tony Robbins nervous.
As of the end of September, Dalio’s Bridgewater Associates, the world’s largest hedge fund, had boosted its holdings in SPDR Gold Shares almost seven-fold, and more than tripled its stake on iShares Gold Trust, a regulatory filing showed Monday.
That’s a half-billion dollars’ worth of gold ETF shares, which is, you know, a lot. And for all we know that pile of gold shares has gone up in the last six weeks, because old Ray sure doesn’t seem to think things are getting any better. At this rate, expect to see a gold-buying/book-selling infomercial filmed in a bunker in an undisclosed location in the great Westport area on CNBC in prime time very, very soon.