The Big Dangers of Big Bubbles with Big Wealth Gaps
Ray Dalio, Founder of Bridgewater Associates November 20, 2025
While I am still an active investor hooked on the investing game, at this stage in my life, I am also a teacher trying to pass along what I’ve learned about how reality works and the principles that helped me deal with it well. Since I have been a global macro investor for over 50 years, and learned a lot of lessons from history, naturally a lot of what I pass along is about that.
This note is about:
- The important difference between wealth and money, and
- how that drives bubbles and busts, and
- how that dynamic, accompanied by big wealth gaps, could prick the bubble and lead to a bust that is socially and politically disruptive as well as financially disruptive
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https://www.linkedin.com/pulse/big-dangers-bubbles-wealth-gaps-ray-dalio-s2fbe/
