Ray Dalio, one of world’s richest men, recently published a think-piece on Linkedin entitled, “Our Biggest Economic, Social, and Political Issue” which, he writes, is wealth inequality: the disparity between the upper 40% and the bottom 60%. The media glommed on to this popular Progressive meme and it got a lot of attention because of his prominence.
Mr. Dalio runs the world’s largest hedge fund, Bridgewater Associates. According to their website they “manage about $160 billion for approximately 350 of the largest and most sophisticated global institutional clients”. Forbes says Mr. Dalio is worth about $17 billion. By any measure he is one of the most successful investors in the world. (more…)