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KSAT 12 News at Noon

The latest local, regional and national news events of the morning are presented by the KSAT 12 News Team

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KSAT 12 News at Noon

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RAY DALIO


Pivotal Senate GOP race pits billionaire Ray Dalio's former CEO against his friend Dr. Oz

Republican Senate candidate Dr. Mehmet Oz has deep ties to billionaire hedge fund founder Ray Dalio.

cnbc.com

Billionaire investor Ray Dalio says the US appears to be on the path to 'some form of civil war'

Dalio wrote in a LinkedIn post that the country is witnessing greater amounts of populism and extremism, and outlined why he thinks the country is on a potential path to civil war.

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Billionaire Ray Dalio: Trying to time the stock market is harder 'than competing in the Olympics'

Trying to time the market is a fool's errand, Dalio says. In fact, you might be better off trying to beat Usain Bolt in a footrace.

cnbc.com

Ray Dalio: Allocating up to 2% of your portfolio to bitcoin is reasonable

When asked about percentage of allocation, Ray Dalio, agreed that up to 2% of a portfolio in bitcoin sounds right.

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Billionaire Ray Dalio credits his success to 40 minutes of meditation per day — here's how he does it

Billionaire Ray Dalio takes CNBC Make It inside his daily meditation practice, which he says helps drive his financial success as a hedge-fund manager.

cnbc.com

Billionaire Ray Dalio: Bitcoin is like 'a younger generation’s alternative to gold' and has 'merit'

Billionaire investor Ray Dalio is impressed with bitcoin, the largest cryptocurrency by market value, and its blockchain.

cnbc.com

Why billionaire Ray Dalio thinks another economic disaster is coming — and how he recommends preparing for it

Hedge fund billionaire Ray Dalio gives advice on how to prepare yourself for future financial catastrophes — and what could tank the American economy next.

cnbc.com

Ray Dalio says cash is not a safe place right now despite heightened market volatility

"Cash is not a safe investment, is not a safe place because it will be taxed by inflation," Dalio said Tuesday on CNBC's "Squawk Box."

cnbc.com

Ray Dalio's Bridgewater is reportedly looking to raise $469 million in new China fund

American hedge fund manager Ray Dalio is launching a new China fund through a local subsidiary, according to China's Securities Times, citing sources.

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4 book recommendations from Emma Grede, the first Black woman investor on ‘Shark Tank’

'Shark Tank' guest investor and Good American CEO Emma Grede says she constantly reads to improve as a leader. Here are four of the books she regularly revisits.

cnbc.com

Ray Dalio says the workplace is never going back to the same way it was pre-Covid

"The future of the workplace is going to be characterized by probably two things — customization and technology," Ray Dalio said.

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How billionaire Ray Dalio became business coach to Sean 'Diddy' Combs — and tips from Dalio on getting your own

Sean 'Diddy' Combs may not seem like someone who needs a mentor. Here's why he reached out to billionaire Ray Dalio anyway — and what you can learn from it.

cnbc.com

Ray Dalio says if bitcoin is really successful, regulators will 'kill it'

Ray Dalio, founder of the world's largest hedge fund Bridgewater Associates, believes regulators would ultimately take control of bitcoin if the cryptocurrency gains mainstream success. "I think at the end of the day if it's really successful, they will kill it and they will try to kill it. "You have El Salvador taking on it and you have India and China getting rid of it. In June, El Salvador has become the first country to adopt bitcoin as legal tender. I have a certain amount of money in bitcoin," Dalio said.

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NBA legend Shaquille O'Neal explains why he hasn't invested in crypto

NBA legend and business mogul Shaquille O'Neal explains why he's wary of cryptocurrencies.

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Ray Dalio is wrong about China's tech crackdown, economist says

Billionaire investor Ray Dalio says investors are misconstruing China's tech crakcdown as "anti-capitalist." Economist George Magnus thinks that's "wrong."

cnbc.com

Bitcoin vs. gold: Here’s what billionaire Ray Dalio thinks

Why billionaire Ray Dalio would choose buying gold over bitcoin.

cnbc.com

Billionaire Ray Dalio: There are 3 things everyone needs to understand about money

Billionaire Ray Dalio says a financial education can give you security and the ability to help others. Here's what you need to know.

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Facing Forward with Margaret Brennan: A "Face the Nation" podcast

"Facing Forward" brings weekly conversations about the tectonic shifts in our world and how they impact every American.

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Bridgewater Associates' Ray Dalio on addressing income inequality and reforming capitalism

DALIO: That's right. DALIO: I think there's- there's a mixed picture. When do you think China is going to overtake the US and become the most powerful economy in the world? There's- there's threads that ran through it. DALIO: Well, that's- that's what I'm saying.

cbsnews.com

Devon Dalio, son of billionaire Ray Dalio, dies in car crash

FILE - In this March 23, 2019 file photo, Bridgewater Associates Chairman Ray Dalio speaks during the Economic Summit held for the China Development Forum in Beijing, China. A family spokesperson says the 42-year-old son of hedge fund founder Ray Dalio died in a car crash this week. The family spokesperson on Friday, Dec. 18, 2020 confirmed Devon Dalio's death in a Thursday afternoon crash to Hearst Connecticut Media. (AP Photo/Ng Han Guan, File)GREENWICH, Conn. – Devon Dalio, the 42-year-old son of hedge fund founder Ray Dalio, died in a car crash this week, a family spokesperson said Friday. The family spokesperson confirmed the death in a Thursday afternoon crash to Hearst Connecticut Media.

Billionaire hedge fund manager Ray Dalio shares his China strategy

But one billionaire hedge fund manager has a strategy that begins with "balance." Ray Dalio told CNBC's "Street Signs Asia" on Wednesday that the way to play the Chinese market is to first build a diversified portfolio. From that, you want to make the tactical moves." Dalio said that the Chinese yuan could see greater usage outside China as the U.S. dollar and other major reserve currencies are hit by a weak economy. Dalio warned that the "tactical moves" he cited will shift over time.

cnbc.com

The 5 stock-picking legends you must study up on to become a smarter investor

Online books are having a moment. Phil Town, an author whose investing books have been best sellers, is also a big reader of iconic investors who have displayed a penchant for writing. Here are the five market giants Town recommends for reading material if you want to become a better investor. Dalio provides insights into where the economy is headed, based on research and data generated from Bridgewater. "He's the guy I would look to and say, 'How are we going to come out of this?'"

cnbc.com

Billionaire Ray Dalio says coronavirus marks the start of a 'new future'

Billionaire hedge fund manager Ray Dalio has described the coronavirus outbreak as an exciting turning point in history one that could pave the way for greater societal progress. In a live LinkedIn interview Tuesday, the Bridgewater Associates founder highlighted the devastating human toll of the virus, which has so far infected more than 2.5 million globally, and its wide-reaching economic repercussions. However, he went on to strike an optimistic note, saying that the financial fallout should be viewed in wider historical context. Comparing the pandemic with other periods of economic hardship, such as the Great Depression, Dalio said the current downturn painful as it is would be "relatively brief" and would allow for a wider global "restructuring." That restructuring could last three to five years, he said.

cnbc.com

Ray Dalio predicts a coronavirus depression: 'This is bigger than what happened in 2008'

The Great Depression saw U.S. unemployment hit a peak of nearly 25% , while gross domestic product (GDP) declined by nearly 30% . Many economists are predicting that the ongoing economic disruptions and business shutdowns caused by the coronavirus pandemic will result in a global recession . But billionaire investor Ray Dalio is going one step further by predicting a depression. He's also estimated that global losses could be anywhere from $12 trillion to $20 trillion from a global economy that's worth over $85 trillion. All of the little businesses, all of those in all the different places that are beyond it," Dalio said.

cnbc.com

Hedge fund titans Simons, Griffin, Cohen and Tepper earned $1 billion in 2019 before virus outbreak

Renaissance Technologies's James Simons, Citadel's Ken Griffin, Points72's Steven Cohen and Appaloosa Management's David Tepper were among the biggest hedge fund earners in 2019 with each man raking in over $1 billion, according to Institutional Investor's Rich List. 1 on the list was Christopher Hohn of TCI Fund Management, who earned in $1.8 billion last year, according to Institutional Investor. As a result of a banner year, the 25 highest-earning hedge fund managers made a combined $20.2 billion in 2019, the most since 2013. It's likely that a significant portion of the managers' 2019 income was erased throughout the market collapse. For example, Bridgewater's Dalio told CNBC last week that his hedge fund was down 10% to 20%.

cnbc.com

Investor Ray Dalio estimates the corporate losses in the US from coronavirus will top $4 trillion

Investor Ray Dalio told CNBC on Thursday the coronavirus outbreak will cost U.S. corporations up to $4 trillion, and "a lot of people are going to be broke." "What's happening has not happened in our lifetime before ... What we have is a crisis," Dalio said in a "Squawk Box" interview. There's a need for the government to spend more money, a lot more money." The founder of the Bridgewater Associates hedge fund also estimated the global corporate losses will amount to $12 trillion due to the pandemic. Dalio said the fiscal stimulus package should be $1.5 trillion to $2 trillion at a minimum, depending on the form of the financial relief such as loan guarantees and credits.

cnbc.com

Even the world's biggest hedge fund was caught flat-footed by the coronavirus market sell-off

Bridgewater Associates, the largest hedge fund in the world founded by Ray Dalio, has navigated several market downturns with great success. The Financial Times reported Bridgewater's flagship fund the Pure Alpha Fund II is down about 20% for the year following the swift plummet from all-time highs into a bear market from stocks. So, we stayed in our positions and in retrospect we should have cut all risk," Dalio told the Financial Times in a statement. "We're disappointed because we should have made money rather than lost money in this move the way we did in 2008," Dalio told the FT. Click here to read the full Financial Times story.

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Oprah Winfrey: After interviewing 37,000 people I learned everyone shares this 1 thing

From 1986 to 2011, Oprah Winfrey says she interviewed more than 37,000 people on her talk show "The Oprah Winfrey Show." Winfrey said she started to see a thread among her subjects including even presidents Barack Obama and George Bush and singer Beyonce. "I practice this thing called mindfulness every day, which means really just staying present in the moment," Winfrey said. Winfrey, along with billionaire Ray Dalio and singer Lady Gaga all swear by a technique called Transcendental Meditation (TM). Being present is so important to Winfrey that in 2011, her last year on "The Oprah Winfrey Show," she brought in a TM teacher for her production team to learn the technique.

cnbc.com

Ray Dalio thinks the coronavirus' hit to global markets is probably exaggerated

Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019. ABU DHABI, United Arab Emirates Billionaire hedge fund giant Ray Dalio thinks the roller-coaster impact of the new coronavirus on markets is likely exaggerated. It most likely will be something that in another year or two will be well beyond what everyone will be talking about." U.S. markets managed to erase coronavirus-related sell-offs last week, with the S&P 500 scoring a new record close. The S&P and Dow broke four-day win streaks on Friday, but they're still up 3% and 2%, respectively, on the year, with Monday's stock market rally led by tech gains.

cnbc.com

Everything Jim Cramer said about the stock market on 'Mad Money,' including coiled spring stocks, crude consolidation

CNBC's Jim Cramer broke down what parts of the market will be ready to surge higher once the coronavirus outbreak is quelled. The "Mad Money" host argued that the oil and gas industry needs to see some consolidation before their stocks can make sustained gains. Brendan McDermid | ReutersThe market gave a glimpse of how stocks will react when the coronavirus epidemic is quelled, but investors shouldn't turn bullish just yet, CNBC's Jim Cramer said Tuesday. A market or stock is considered "coiled" when it has potential to catapult after a period of facing pressure. "The longer we don't get one, the more likely it is that the energy stocks deserve to be down."

cnbc.com

5 things to know before the stock market opens Tuesday

Coronavirus cases continue to rise in ChinaMedical staff check a patient's condition at a temporary hospital converted from "Wuhan Livingroom" in Wuhan, central China's Hubei Province, Feb. 10, 2020. Ivan Alvarado | ReutersAmazon is seeking to question President Donald Trump, Defense Secretary Mark Esper and former Defense Secretary James Mattis over a $10 billion Pentagon cloud contract awarded to Microsoft. AWS sent CNBC a statement, which reads in part, "President Trump has repeatedly demonstrated his willingness to use his position as President and Commander in Chief to interfere with government functions." Chip Somodevilla | Getty ImagesA federal judge on Tuesday ruled in favor of the $26 billion Sprint and T-Mobile deal. Shares of T-Mobile were up over 7% in trading ahead of Wall Street's open on Tuesday.

cnbc.com

S&P 500 and Nasdaq eke out fresh record closing highs

The S&P 500 and Nasdaq Composite rose marginally on Tuesday eking out fresh record closing highs as investors digested testimony from the top U.S. central banking official and assessed the potential economic impact of the coronavirus. During the Q&A portion of his testimony, Powell noted it is "too early to say" how the coronavirus will ultimately impact the U.S. economy. "The coronavirus clearly presents a risk to the global economy," said Danielle DiMartino Booth, CEO of Quill Intelligence. Investors have been grappling with fears that of the coronavirus denting global economic growth. Both the S&P 500 and Nasdaq Composite closed at fresh highs on Monday, while the Dow jumped more than 170 points.

cnbc.com

Founder of investment club for ultra wealthy sees value in cash despite Dalio calling it 'trash'

The founder of an exclusive investment club for the ultra wealthy told CNBC on Thursday that his members are sitting on piles of cash to protect against an economic downturn. Michael Sonnenfeldt, the founder and chairman of Tiger 21, said on "Squawk on the Street" that members of his club have about 12% of their portfolios in cash. The upcoming presidential election and the widening coronavirus outbreak are two areas of concern for club members, he said. Billionaire Bridgewater Associates founder Ray Dalio told CNBC that "cash is trash," during an interview earlier this month at the World Economic Forum in Davos, Switzerland. Sonnenfeldt that he thought Dalio's advice was not necessarily wrong but might not apply to Tiger 21 members.

cnbc.com

Here's the investment strategy Bridgewater's Ray Dalio is using to deal with coronavirus

What we don't know is much greater than what we do know," wrote Dalio in a note Jan. 28. Bridgewater also looked at the H1N1, or swine flu virus in 2009 and 2010. With this virus and SARS, the markets acted in a risk-off way, responding to falling growth and the flight-to-quality. The U.S. economy appeared to go into a sharp downturn during the Spanish flu outbreak. "So far, China's response is much more transparent and decisive compared to the SARS outbreak, which affects both the statistical comparison and the rate of dealing with the problem," he wrote.

cnbc.com

Ray Dalio says 'cash is trash' and advises investors hold a global, diversified portfolio

Ray Dalio, founder of investment firm Bridgewater Associates, said Tuesday that he thinks investors shouldn't miss out on the strength of the current market and that they should dump cash for a diversified portfolio. "Everybody is missing out, so everybody wants to get in," Dalio said on CNBC's "Squawk Box" at the World Economic Forum in Davos, Switerzland. Dalio advised having a global and well-diversified portfolio in this market and said the thing people can't "jump into" is cash. "Cash is trash," Dalio said. There's still a lot of money in cash."

cnbc.com

6 steps to take now so your financial life will be off to a good start in 2020

"It's smart to have a game plan going into the following year, especially around what you are trying to accomplish savings-wise," said certified financial planner Tyler Huck, a financial advisor for Atlanta-based Oxygen Financial. That can be investing in your future by taking a class, putting more money aside in your 401(k) or investment account or just shoring up your emergency savings. Review your financial goalsPakorn Kumruen / EyeEm | EyeEm | Getty ImagesTake a look at your financial and personal goals and make sure they align. "Sometimes you can get completely off track because you get caught up in other things," Harris said. Zaneilia Harris president, Harris and Harris Wealth ManagementDetermine how much money you need to set aside per pay period to reach your goal.

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5 things to know before the stock market opens Friday

Spencer Platt | Getty ImagesU.S. stock futures were pointing to a higher open Friday on Wall Street. China's Xi goes with the carrot and the stickChinese President Xi Jinping Aris Messinis | Pool | ReutersChinese President Xi Jinping said Friday that Beijing wants a trade deal with the United States but is not afraid to "fight back." The bet was assembled over months with the help of Wall Street firms including Goldman Sachs and Morgan Stanley, the Journal said. Musk unveils Cybertruck and it didn't go as plannedElon Musk introduces the Cybertruck at an event on Nov. 21, 2019. There's buzz around the internet and among the Wall Street analyst community about the strange design.

cnbc.com

Billionaire investor Ray Dalio says he's 'impressed' by Indian prime minister Modi

Billionaire hedge fund manager Ray Dalio said in a tweet that Indian Prime Minister Narendra Modi is "one of the best, if not the best, leaders in the world" then clarified his position in a series of follow-up tweets. Modi delivered a keynote address at the event in Saudi Arabia where he talked about empowering "the poorest of the poor." Dalio and Modi then spoke on a range of topics that included meditation, the state of the world and global conflicts. In May, Modi and his Bharatiya Janata Party won a landslide victory at the Indian parliamentary election. Its finance sector is in crisis mode, which has hamstrung lending, while the manufacturing sector is struggling, economists said.

cnbc.com

The Fed's monetary juice has tied directly to the rise in stocks: 'Here we go again'

The results: a $175 billion expansion of the Fed's balance sheet to $4.07 trillion, representing growth of 4.5% since the operations began. The operations this year, as stated by the Fed, are specifically to stabilize short-term rates, though the process is identical. Financial imbalancesQE and the latest round of stimulus are "absolutely" similar, said Lisa Shalett, chief investment officer at Morgan Stanley Asset Management. She cited the since-abandoned WeWork initial public offering as one example of money looking for financial assets rather than being put back into the real economy. "This set of circumstances is unsustainable and certainly can no longer be pushed as it has been pushed since 2008.

cnbc.com

Hedge fund manager Ray Dalio says the economy isn't growing because 'the world has gone mad'

Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019. Central banks have been giving cheap money to investors who have been injecting it into companies that are often unprofitable and don't contribute to economic growth, says billionaire hedge fund manager Ray Dalio. The founder of Bridgewater Associates, the world's largest hedge fund, recently put up a LinkedIn post titled: "The World Has Gone Mad and the System Is Broken." His post comes days after the Federal Reserve cut interest rates for a third time this year to buffer the U.S. against a slowing global economy and the ongoing U.S.-China trade war. Dalio suggests that it will ultimately fall on the central bank to buy up this debt by printing more money.

cnbc.com

Ray Dalio says the US will have no other option but to raise taxes in coming years

Bridgewater Associates co-Chairman Ray Dalio said Tuesday that the U.S. will have little choice but to raise taxes in the coming years to offset its mounting liabilities and debts. "We're dealing with almost a currency issue, longer term, in terms of what is the value of currency when those liabilities not only the debt liabilities, but the pension liabilities and the health-care liabilities, which are like debt. "I don't think they will be defaulted on," he added. "I think by and large they're going to be paid, but if they raise taxes too much, then it changes the nature of that economics." Dalio gave a relatively innocuous view on the broader financial market, saying, "I don't think it's a breakout and I don't think it's particularly overbought either."

cnbc.com

Ray Dalio says the world is in a 'great sag' and echoes the 1930s

Hedge fund owner Ray Dalio said the global business cycle is in a "great sag" and the world's economy holds at least two parallels to the 1930s. Dalio said the world was also experiencing the biggest wealth gap since the 1930s and that was creating political stress. Dalio told the CNBC panel that China's new swagger was further evidence that the world now echoes the depression era of the last century. "Also like the 1930s, we have a rising power challenging an existing world power in the form of China-U.S. The hedge fund titan claimed there were four types of war to watch for trade, technology, currency and geopolitical.

cnbc.com

Billionaire Ray Dalio: The 2 things you have to do to get 'the money you need and the job you want'

But hedge fund billionaire Ray Dalio believes the dream is achievable, so long as you can master two skills: creativity and flexibility. "To have both the money you need and the job you want, you have to be creative and flexible," Dalio wrote in a LinkedIn post on Wednesday. "Start by thinking hard about if there's anything that you're passionate about that pays well," Dalio writes. Dalio's friend has a career as a commercial artist, which pays well enough to offer financial stability while also allowing him to translate his passion into an "artistically creative career," Dalio writes. "I have found that most people can find careers that provide both good job satisfaction and good money in order to have a good life if they're clever enough and not overly particular," Dalio writes.

cnbc.com

Billionaire Ray Dalio says this outlook will help you achieve your dreams

But hedge-fund billionaire Ray Dalio believes that you need both qualities to be successful. In fact, Dalio says all dreamers need a healthy dose of realism to help them achieve their dreams. "Being hyperrealistic will help you choose your dreams wisely and then achieve them," Dalio wrote in a Facebook post on Thursday. "Understanding, accepting and working with reality is both practical and beautiful," Dalio writes on Facebook. "Don't get me wrong: I believe in making dreams happen," the billionaire writes on Facebook.

cnbc.com

Ray Dalio reveals the 'most important thing you need to do' to be a successful investor

If you are going to take investing advice from anybody, Ray Dalio is a good bet. Dalio founded investment firm Bridgewater Associates out of his two-bedroom apartment in New York City in 1975. According to Dalio, "diversifying well is the most important thing you need to do in order to invest well," he wrote on LinkedIn on Monday. By diversifying, Dalio means spreading out your money into different kinds of investments, such as stocks, bonds, commodities, real estate, etc. Diversification is important because there is so much you don't know when you are putting your money in an investment, Dalio said in his LinkedIn post.

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Bridgewater's Ray Dalio backs China despite trade war escalation

Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, urged investors to have bets on "both horses in the race" amid rising trade tensions between the U.S. and China. In a video posted online Tuesday, Dalio argued that investors still have a historic opportunity to buy into China as it opens up its markets to foreign investments. The U.S. objects to the lower yuan as it makes Chinese exports cheaper on international markets, offering Chinese products a price advantage. "Would you have not wanted to invest with the Dutch in the Dutch empire? Would you not want to invest in the United States and the United States empire?

cnbc.com

Billionaire Ray Dalio: U.S. economy must change or there will be 'conflict' between the rich and poor

The United States must change its economic system or there will be conflict between the rich and the poor. So says billionaire hedge fund guru and finance entrepreneur Ray Dalio. We can do it together, or we will do it in conflict, that there will be a conflict between the rich and the poor," Dalio said. "If you look at history, if you have a group of people who have very different economic conditions, and you have an economic downturn, you have conflict," Dalio says. " Today, Bridgewater manages $160 billion in capital and is the largest hedge fund in the world.

cnbc.com

Ray Dalio says wealth inequality is a national emergency

Ray Dalio avoids extensive interviews and had not allowed news cameras full access to his firm, Bridgewater Associates, until our visit. So we figured it was a good investment of our time to do a deep dive on the principles of Ray Dalio. Ray Dalio: Yeah, I-- I-- that-- I-- that doesn't make any sense to me at all-- any sense at all. Ray Dalio: Yeah. Ray Dalio has agreed to donate half his $18 billion fortune to charity to help mend the system that made him rich.

cbsnews.com

Ray Dalio explains his principles

Billionaire Ray Dalio runs the world's largest hedge fund, Bridgewater Associates, and is one of the richest Americans, with a net worth north of $18 billion. While interviewing Dalio for this week's 60 Minutes, correspondent Bill Whitaker asked him about his principles, the guidelines Dalio has established over decades that he says are the key to his company's success. Billionaire hedge fund manager talks to Bill Whitaker"When you talk to Ray Dalio, there's a bit of Ray Dalio speak," Whitaker said. Still, some employees Whitaker spoke with credit Dalio's principles for helping them to recognize their own deficiencies and improve on them. To watch Bill Whitaker's 60 Minutes report on Ray Dalio, click here.

cbsnews.com

Gold, earnings and emerging markets could boost investor returns through year-end

John Davi from Astoria Portfolio Advisors appeared on CNBC's "ETF Edge" Monday to offer three top picks centering around gold, emerging markets and earnings growth. "EDIV has very little overlap with EEM" [and] trades at 10 times earnings, while EEM trades at 13 times earnings." The index tracks a yield-weighted index of 100 stocks with strong earnings growth and high dividends screening for three-year positive earnings growth and profitability. WisdomTree U.S. Quality Growth Fund (DGRW)Davi likes the WisdomTree U.S. Quality Growth Fund, a basket of stocks boasting both strong earnings and strong dividend growth. Davi notes that while the S&P 500 trades at a historically lofty 17-18 times earnings and QUAL trades at roughly 19-20 times earnings, DGRW trades at a much more reasonable 16 times earnings.

cnbc.com

Ray Dalio, who just made a big gold recommendation, is missing the 2019 market comeback

The firm's Pure Alpha fund, which tries to follow and capitalize on macroeconomic trends, lost 4.9% in the six months ended June 30, the Financial Times reported. The losses were especially heavy in January, when the Pure Alpha fund declined 4.5%, the FT said, hinting that the firm may have suspected more market losses following a turbulent Christmastime sell-off. The firm, the world's largest hedge fund, was founded by Ray Dalio and oversees about $160 billion in assets. Instead, he advocated putting money into gold, traditionally viewed as a more conservative investment for its stability during times of tumult. Click here for the original Financial Times report.

cnbc.com
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