July 20, 2024

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Ray Dalio refuses to endorse Biden or Trump in U.S. Presidential election race

2 min read

If you’re one of the millions of Americans wondering how the country wound up stuck between a twice-impeached convicted felon and an increasingly frail incumbent for its next President, Ray Dalio can sympathize. 

The billionaire founder of Bridgewater, the world’s fourth largest hedge fund, said the unfortunate reality is that he, along with about half of the country, wished there was a realistic alternative to Donald Trump and Joe Biden.

“I feel like I am faced with the choice between a strong, unethical, almost fascist Republican Party and a frail, untruthful and enigmatic Democratic Party,” he wrote in a column for Time he simultaneously posted on LinkedIn. “As things now stand, there is no good presidential contender and no good party for me to choose from.”

The speculator, who handed over the reins at Bridgewater in 2022, had told Fortune CEO Alan Murray prior to the first primary contest in Iowa that he was already dreading a potential rematch of Trump vs Biden. 

Since Dalio wrote that he respected and liked Biden, he turned his crosshairs instead towards leading Democrats who sought to hide the President’s “weak and rapidly declining condition” from the American public.

By pretending the 82-year-old had the constitution to face another four years of the most demanding and important job around when it was clear the emperor had no clothes, the party undermined trust. 

“That is obviously ridiculous and an insult to people’s intelligence,” Dalio wrote, adding claims that Biden could still function most hours of the day only lead to a “terrible loss of confidence in its honesty and…

Christiaan Hetzner

2024-07-10 08:16:54

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