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Understanding the Macro Economics of Euro Zone

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May 25, 2012 – Comments (4)

Stop! Get this past weekend's Barron's, turn to the "Penta" section and read the interview with Ray Dalio.  Then read it again. Then read it one more time.

If you want to understand the macro economic condition in Europe in simple, clear terms and with an historical perspective that will give you new eyes, this is better than many full books I've dragged myself through.  Far from being dismal, it is the kind of insight that can only come from a person who is confident without arrogance, at ease in his/her mind, and educated in the way we all would want our children and grand-children to be.

Amazing piece!

I have recommended it to everyone in my close circle (real friends, not FB mob), and will procure reprints to give to my elected representatives, senators and scoundrels. (they don't get to be called fools, though fools they might certainly be)

If you have read this far - S T O P ! !  Go get this article and read it.

 

4 Comments – Post Your Own

#1) On May 25, 2012 at 6:08 PM, portefeuille (99.78) wrote:

http://online.barrons.com/article/SB50001424053111904370004577390023566415282.html

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#2) On May 25, 2012 at 6:19 PM, portefeuille (99.78) wrote:

the Maastricht Treaty that created the European Union ...

is it so difficult to at least consult wikipedia? oh well ...

http://en.wikipedia.org/wiki/Maastricht_Treaty

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#3) On May 25, 2012 at 6:37 PM, chk999 (99.98) wrote:

Excellent Ray Dallio interview!

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#4) On May 25, 2012 at 10:42 PM, TMFAleph1 (94.05) wrote:

The views Dalio presents are almost certainly based on the research of a guy called Zachary Squire, who graduated from Princeton as valedictorian in 2008.

Indeed, this is how Zachary describes part of his responsibilities at Bridgewater on LinkedIn:

...responsible for supporting Ray Dalio’s personal investment research projects (e.g. historical relationship between nominal growth and interest rates, research into UK debt paydown after WWII, preparing presentations for government officials and investors, etc.)

Squire was a Classics major:

Squire's thesis adviser, Brent Shaw, the Andrew Fleming West Professor in Classics, described the work as "the finest piece of research of this type that I have had occasion to read during my time at Princeton."

Noting that Squire set a new benchmark for debate on Cicero and property rights, Shaw added that he "had the perspicacity to see a very good subject and a talent that was equal to the task. Since an enormous amount of scholarship already exists on Cicero -- even on these particular aspects of his thinking -- a fairly high bar was set to do any innovative research with the problem of private property and the nature of the state.

Finally, it appears that the breadth of his research interests as an undergraduate was considerable:

A similar sensibility guided his academic and extracurricular pursuits at Princeton. He spent last summer as a researcher in the Center for Mid-Infrared Technologies for Health and the Environment headed by Claire Gmachl, a professor of electrical engineering. There he focused on possible applications for quantum cascade lasers in the field of trace gas detection, and explored the interaction of scientists and policymakers and the role of scientific expertise in elected government. During his junior year, he worked as research assistant to Helen Milner, chair of the politics department, on a statistical analysis of Congressional voting patterns on trade policy.

Very impressive guy -- I can see why Dalio would have been interested in hiring him.

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