Ray Dalio, Founder of Hedge Fund Giant Bridgewater, Sees More Pain Ahead

Dalio, 73, is stepping down at a time when Bridgewater’s flagship Pure Alpha fund is riding high—it gained more than 22% this year through Oct. 31—but the world is feeling low. After years of loose monetary and fiscal policies and debt-fueled growth, many nations are grappling , and central bankers are raising interest rates to cool price gains. Higher rates, in turn, have clobbered stock and bond markets, and threaten to tip major... + full article