anybody at Bridgewwater at any time could say could challenge me on anything and I felt the obligation for everybody to hear that exchange. >> People love to talk about corporate culture. One thing you're clearly very ahead of the curve is just thinking about this term.>> You know, there's a term and it's just like what do you want to do. How do you want to behave with each other. We don't have to even use the word coffer culture in any relationship.If you have a marriage, if you have friendships, if you ha ...

What is your take on wealth taxes in the US. Because that's a manifestation of this issue. It >> it's a manifestation of the issue, but it's also very important.How do bubbles burst. Okay, bubbles burst. There's a difference between wealth and money.You can easily make wealth. Wealth is like um I raise $50 million with a billion dollar valuation on on a stock. It's only 50 million comes up, but I'm a billionaire.And then that's a billion dollars in wealth. Now, you know what pops bubbles. What pops bubbles ...

If you want to understand everything you’re hearing about budget deficits and tariffs, you need to understand the big debt cycle. But if you’d like more context on how all of these pieces come together, I recommend you watch my 45 minute-explainer “Principles for Dealing with the Changing World Order” here: https://www.youtube.com/watch?v=xguam0TKMw8 #principles ...

While in the top phase, most of these strengths are sustained, embedded within the fruits of their success are the seeds of their decline. As a rule, as people in these rich and powerful countries earn more, that makes them more expensive and less competitive relative to people in other countries who are willing to work for less. At the same time, people in other countries naturally copy the methods and technologies of the leading power, which further reduces the leading power's competitiveness.For example, ...

Gold is not a metal to speculate on. It's the second largest reserve currency. It has been the reserve currency.Okay. So, there's a money and we're talking about it's common conversation about what is money. Is it Bitcoin. Is it digital.How does it work. Right. So the uh we need to talk about the value of. ...

If I studied the 10 most powerful empires over the last 500 years and the last three reserve currencies, it took me through the rise and decline of the Dutch Empire and the Gilder, the British Empire and the pound, the rise and early decline in the United States Empire and the dollar, and the decline and rise of the Chinese empire and its currencies, as well as the rise and decline of the Spanish, German, French, Indian, Japanese, Russian, and Ottoman empires along with their significant conflicts as measur ...

As a global macro investor, I look at the biggest forces, you know, uh markets, um economies, uh politics, geopolitics, and I bet on them, right. And so, uh 2025 was a very interesting year and I see it very different from most how most people see it. In other words, most people think that the biggest story was uh AI and tech and tech stocks and that was the best investment.Wrong. Okay. It was not.uh the biggest investment was gold and the depreciation of the value of fiat money as we know it. Most people t ...

The beauty of writing down and thinking through your own principles is that they're real. They're yours. They're internalized. They're reflected on.And that gives you a great. ...

The information that it is being trained on is pretty much everything in my brain, you know, and it's being trained on well because I wrote down thousands of principles. I've written uh books about uh principles and things. I've done interviews.All of that in information uh it's been trained on so that it can think artificially think the way that I can think. And then it's been trained on me looking after that and checking it the questions and the answers to be able to make sure that that's what I would be ...

My mantra of investing is 15 good uncorrelated return streams riskbalanced because I know that if I can pick good investments um and they're uncorrelated investment I won't lower my return because I'll have the average of those returns but I will lower my risk by up to 80%. And so my mantra is you know uh what I don't know what the risks are always out there uh and risk balance them. It's not necessarily dollar balance.>> Sure. And it's not just these, it's this combination, this basket, the all weather por ...