达利欧退隐，七大投资原则备受关注

Core Viewpoint - Ray Dalio, founder of Bridgewater Associates, emphasizes that pain and reflection lead to progress, marking his retirement after selling all his shares in the fund [1][2]. Group 1: Bridgewater's Recent Developments - Bridgewater has repurchased all remaining shares from Dalio and issued new shares to the Brunei Sovereign Wealth Fund, granting it nearly 20% ownership [2]. - Dalio has successfully predicted major trends over his 50-year career, including the 2008 financial crisis and the European debt crisis [2]. Group 2: Future Economic Predictions - Dalio warns of a 65% probability of a global debt crisis in the next five years, which could severely impact the dominance of the US dollar [4]. - He believes that entities failing to recognize their position in economic cycles will be overwhelmed by powerful economic forces [4]. Group 3: Investment Philosophy and Historical Performance - Dalio's investment journey began in 1975, leading Bridgewater to become the world's largest hedge fund, with notable performance during crises [5]. - Despite recent challenges, Bridgewater's flagship fund, Pure Alpha, has shown improvement, achieving an 11.3% return in 2024 and 17% in the first half of 2025 [6]. Group 4: Critiques of Dalio's Debt Theory - Dalio's theory on debt accumulation has faced criticism for applying microeconomic reasoning to macroeconomic issues, potentially oversimplifying complex economic dynamics [7][8]. - Critics argue that the sustainability of US debt is tied to the dollar's status as the world's reserve currency, which is threatened by various factors [8]. Group 5: Dalio's Legacy and Principles - Dalio reflects on his journey with Bridgewater, emphasizing the importance of culture, decision-making standards, and learning from mistakes [10]. - He outlines seven key investment principles, including understanding causal relationships and the importance of diversification to mitigate risk [10][11].