As things currently stand, the legendary Ray Dalio of Bridgewater, the world's largest hedge fund firm, believes we're heading for a recession in 2023 or 2024. So far, it looks like he's been reading the markets right because Bridgewater is killing it right now with a year-to-date return of around 25%-ish, according to Dalio.
Watching These Three Forces
At MarketWatch's Best New Ideas Money Festival on Wednesday, he gave his outlook on the economy and thoughts on the current market environment. Dalio sees three forces taking shape in the world that have occurred in our lifetimes. The first is excessive printing of money, the second is internal conflict, and the third is the rise of an economic superpower.
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