Ray Dalio Reveals The Secrets To His Investing Success

In this episode of Iconoclast, Maneet Ahuja interviews Ray Dalio, founder of Bridgewater Associates, about his latest book, "Why Countries Go Broke, The Big Cycle," and the current geopolitical and macroeconomic environment. Dalio explains the mechanics of national debt, comparing it to plaque in a circulatory system, and warns about America's $37 trillion debt, suggesting a "3% solution" involving cuts in spending, tax increases, and allowing interest rates to decline. He also discusses five major forces at play: debt cycles, internal order and disorder, geopolitical conflicts, acts of nature, and technological advancements, drawing parallels to the 1930s. Dalio advises investors to diversify their portfolios, considering gold as a storehold of wealth, and shares his leadership principles, emphasizing meaningful work, relationships, the right people and culture, radical truthfulness, and automating decision-making with AI.