ray dalio has built bridgewater, the largest single hedge fund in the world, managing more than $100 billion. he is also an accomplished author and his most recent book, "the changing world order," talks about the rising china and sinking united states. i had a chance to talk to him recently about that book and many other things relating to the investment world. ray, thank you very much for coming and for writing this book. we will talk about this this evening. i wanted to start by asking you this. you are running the largest hedge fund in the world. more than $150 billion. how do you have time to write books when you are running that hedge fund? ray: i didn't write either of those books, really. what i did was, this book was -- in order to understand what was going on today, i needed to do a study. and what i experienced in life many times before is the surprises that happened to me were things that never happened in my lifetime but happened many times in history. david: when you read the book, as i have, and i enjoyed it, it took me a couple sittings to get through because there is

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i remember listening to ray dalio a hedge funding investor. who's then worth about 17 billion dollars. i suggesting that the solution to inequality was a deregulatory process that would unleash the animal spirits of the market to generating more conducive atmosphere for making money, which was a curious thing to hear from somebody who seem to have figured out how to make quite a bit of money. i i listen to my one time boss our anna huffington. we just launched this new website that was about vacuuming up sponsorships from spas about, you know, wellness and her solution involved meditation and pillows. i heard everything except for the people who are here the richest people in the world, maybe have to give something up and it was all about this was classic davos man thinking it's all win win, right you find win-win solutions and as long as we're doing well. then we invest in this cosmic lie, that wealth will trickle down and everyone will do well and it struck me that here was a the beginning of an explanation for what was happening in the worl