Ray Dalio on Deleveragings Feb 2012 Piece

[A_Hamilton]

http://www.bwater.com/Uploads/FileManager/research/deleveraging/an-in-depth-look-at-deleveragings--ray-dalio-bridgewater.pdf

[valuecfa]

A good read...been looking for material on deleveraging cycles. Thanks

[treasurehunt]

A very interesting paper with a lot of historical data. Thanks for posting.

 

[biaggio]

Thanks for posting.

 

Enjoyed reading it.

 

Funny line- ..."they usually set policies like blind men trying to cook on a hot

stove, through a painful trial and error process in which the pain of their mistakes drives them away from the

bad moves toward the right moves."

 

Interesting take on the U.S fed -he seems to think that they made all the right moves. Compared U.S recently to Japan the last 20 years + argues that Japan has had poor result because they did not print enough money.

 

I wonder if those here who are a fan of Richard Koo have read this paper + wonder what their thoughts are.