Exploring Markets

Ray Dalio Predicts A Coming "Big Squeeze"

Ray Dalio is on LinkedIn and he occasionally shares his insights, speeches, and thoughts about the market. His latest post includes his entire speech to the Federal Reserve Bank of New York City. You can read the whole thing here but first let this paragraph grab your attention:
"I think of the gap between projected liabilities and projected incomes in the following way. Holders of debt believe that they are holding an asset that they can sell for money to use to buy things, so they believe that they will have that spending power without having to work. Similarly, retirees expect that they will get the retirement and health care benefits that they were promised without working. So, all of these people expect to get a huge amount of spending power without producing anything. At the same time, workers expect to get spending power that is equal in value to what they are giving. They all can’t be satisfied... And so there is a 'BIG SQUEEZE COMING'"


Steve Schwarzman on How He Started Blackstone and His Greatest Investing Lessons

Stephen Schwarzman is the founder of Blackstone Group and in 2011 he once spent an entire hour at Yale talking to students. In this talks he explains what he's learned, how he built his company, and what kind of investing he does: