Ray Dalio

We're breaking down the geopolitical order.

So those orders, we have to recognize throughout time, all of those orders have changed.

There's never been a time that they haven't changed and haven't broken down in their issues.

And they're getting back to how they were in some ways in the past.

Number four is acts of nature.

Drought floods and pandemics have killed more people than wars.

So you can't ignore it as natural.

a big influence and number five is the inventions of new technologies particularly um you know fabulous new technologies uh come about and they're important not only for prosperity but they're important in wars you know whoever wins the tech war wins also the economic and the geopolitical war right

And so there's that dynamic and there's that dynamic is when there's rising powers challenging and existing powers.

There's no court to go to, there's no way of resolving that.

There are tests of these powers and we're in a power type of dynamic.

Now, when you understand that that dynamic works through time and you get down to its individual symptoms.

In other words, there's in my book, Principles for Dealing with the Changing World Order, which I wrote about five years ago.

I took and I broke that cycle into five parts of the six parts of the cycle.

And like a disease, you can see the symptoms in those parts, and you can see it progress, and you can see the choices that exist at those stages.

So when you're in a different stage, the leadership has a different stage.

And all I wanted to do, whether it's in that book or in our conversation here today, is to try to let people know

see that.

And I'm just a practical investor, right?

I've been for 60 years, I've been a macro investor.