Hedge fund manager Dario says Reuters says bipartisan efforts needed for the post-pandemic world

By Svea Herbst-Bayliss

Boston (Reuters)-Billionaire investor Ray Dalio, the founder of the world’s largest hedge fund, said on Monday that all sides need to work together to restructure capitalism for the post-pandemic world. Stated.

With widespread follow-up on global issues and potential solutions, Dario said that bipartisan and productive efforts are needed to create economic change. “It’s not just a transfer of wealth. It must be an increase in productivity,” he said in the World Economic Forum’s Virtual Davos Agenda.

“So it has to be comprehensive and it has to be like the Manhattan Project,” Dario said, referring to US-led efforts to develop nuclear weapons during World War II.

His comment came a few hours after he said on Twitter. prosperity. “

At the Davos session, which was held virtually for a pandemic, Dario took a more comprehensive tone and praised US President Joe Biden, who wanted to become President of the United States. “That’s a big goal,” he said.

Still, investors said there was no easy way to solve problems such as wealth inequality, rising debt, and rising power in China and weakening US power. “It’s a fragile, fragmented world,” he said.

According to data from LCH Investments, Dalio’s company, Bridgewater Associates, has earned $ 46.5 billion for investors since its launch in 1975, but retreated last year after losing $ 12.1 billion. ..