Principles: Life and Work

Mon, 27 Jul 2026 00:00:00 +0000

In November 1982, Ray Dalio sat in the guest chair on Wall Street Week with Louis Rukeyser and told the country there would be no soft landing. “I can say that with absolute certainty,” he said, “because I know how markets work.” Congress had invited him to testify weeks earlier. Mexico had defaulted in August, U.S. banks had lent about 250 percent of their capital to countries in the same shape, and his October memo put the odds at 75 percent that the Fed’s rescue would fail.

Ray Dalio on SummaryShelf

Principles: Life and Work