Billionaire Ray Dalio: "We have a breaking down of the monetary order.β
Discussion
All models are wrong.
All models are broken.
All models are wrong, some are useful, most are dangerous
Yes love that
Seeing Dalio openly talking about this is not to be underestimated
Does make me wonder though: in an era when you can just save in Bitcoin, with self-custody, and outperform the average fund, why would you ever invest via a fund?
Ie the fund managers are truly under threat
I can see a world where you put together a fund for niche exposure, high risk stuff
Or more conventional equity investing
But the average fund is a thing of the past
Counter party risk
Inflation risk
Liquidity risk
Rather than being a fund manager, a far better use of time would be to simple save in Bitcoin, teach others that same skill, then focus on what you want to do
π€