Ray Dalio

When the rest of your portfolio does poorly,

poorly, because let's say the 70s being a good example or the 30s being a good example, during those times, it's a diversifier.

Okay, so the optimal amount to have for an individual or a central bank might be different, but an individual would be, depending on what's in their portfolio, between 5% and 15% of a portfolio.

and so what i would say is if you approach that question that way and you think what should i have you should have what i what we talked about before when my a year ago i guess and so on you should have that particular amount somewhere in that neighborhood depending on what your portfolio is like

And because it's an effect of diverse fire and it is a money, okay?

When the traditional money does badly, this money does well.

When the traditional money, which gives you an interest rate, then it's the reverse.

So that's the thing that I would try to convey to people, you know, okay, do you have some of that?

What's the amount that's your comfort level, you know, but have some.

So what...

I would be dealing with achieve...

something like a 3% budget deficit, not more than a 3% budget deficit.

I would try to get financial...

I try to minimize or eliminate, but minimize the risks of that dynamic I was talking about.

Yes, but, and I would say to every, I've said to legislators, I go down to Washington and, you know, leaders of both parties, and I said, it's like being on a ship.

and everybody on the ship is headed to Iraq.

And everybody knows that if you have a deficit of six or 7% of GDP, you're going to have a supply demand problem.

And I have the conversations and by and large, this is the agreement.

And I don't care whether you turn left or you turn right.

in terms of that, but do not hit the rock.