In a perfect world, Men of Principle would hold sway. These benevolent despots would stand astride the globe, ensuring the ideal balance of all things, assuring widespread happiness, taxing soda and enforcing efficient markets theory.
To say the very least, we do not live in a perfect world. And so, laments one of the would-be philosopher-kings, we remain more vulnerable than ever to the stupid, opaque-even-to-themselves whims and rages of the mob, and at a desperately perilous moment, too. Invest accordingly.
"We're in a world now where politics and choices made have a much bigger effect on the markets," Dalio said in a conversation on stage at the Web Summit tech conference in Lisbon, Portugal, on Wednesday….
The question, Dalio said, is whether the next downturn will happen before the next presidential election in two years.
"I would be surprised if it was more than three years down the line and it could be one or two years," Dalio said.