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Ray Dalio Denies WSJ Report of $1B Bet on Global Market Crash (Corrected to reflect new information)
Original Story: The WSJ and other media, including Bloomberg TV, this morning reported that Bridgewater’s Ray Dalio had placed a $1 Billion wager that global markets would drop sharply sometime before March, 2020. (I initially posted that as the gist of the thread.)
Correction: Later in the day, Ray Dalio vehemently criticized the earlier cited WSJ article as wrong and denied Bridgewater has made a $1 Billion bet against the market.
"The Wall Street Journal wrote an article that said ‘Bridgewater Bets Big on Market Drop.’ It’s wrong. I want to make clear that we don’t have any such net bet that the stock market will fall," he wrote in a tweet. To convey us having a bearish view of the stock market would be misleading ...” In his post Friday, Dalio added: “I believe that we are now living in a world in which sensationalistic headlines are what many writers want above all else, even if the facts don’t square with the headlines.”https://www.newsmax.com/finance/investinganalysis/ray-dalio-market-drop-1b/2019/11/22/id/942908/
PS: I’m very sorry if my original post caused anyone to sell everything this morning.
@MFO Members: You don't have to be a Ray Dalio to understand some simple math. YTD the S&P 500 is three times it's average annual return. At some point it must revert to the mean. Regards, Ted
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Regards,
Ted