Principles for Navigating Big Debt Crises - by Ray Dalio (Hardcover)

About the Book

Whether you' re an investor, a policy maker, or are simply interested in debt, this unconventional perspective from one of the few people who navigated the crisis successfully, Principles for Navigating Big Debt Crises will help you understand the economy and markets in revealing new ways.

Book Synopsis

Ray Dalio, the legendary investor and #1 New York Times bestselling author of Principles--whose books have sold more than five million copies worldwide--shares his unique template for how debt crises work and principles for dealing with them well. This template allowed his firm, Bridgewater Associates, to antic-ipate 2008's events and navigate them well while others struggled badly.

As he explained in his #1 New York Times best-seller Principles, Ray Dalio believes that most everything happens over and over again through time so that by studying patterns one can understand the cause-effect relationships behind events and develop principles for dealing with them well. In this three-part research series, he does just that for big debt crises and shares his template in the hopes of reducing the chances of big debt crises hap-pening and helping them be better managed in the future.

The template comes in three parts:
1. The Archetypal Big Debt Cycle (which explains the template)
2. Three Detailed Cases (which examines in depth the 2008 financial crisis, the 1930s Great Depression, and the 1920s infla-tionary depression of Germany's Weimar Republic)
3. Compendium of 48 Cases (which is a compendium of charts and brief descriptions of the worst debt crises of the last 100 years)

Whether you're an investor, a policy maker, or are simply interested in debt, this unconventional perspective from one of the few people who navigated the crisis successfully, Principles for Navigating Big Debt Crises will help you understand the economy and markets in revealing new ways.

Review Quotes

"Ray Dalio's excellent study provides an innovative way of thinking about debt crises and the policy response."
--Ben Bernanke

"Ray Dalio's book is must reading for anyone who aspires to prevent or manage through the next financial crisis."
--Larry Summers

"A terrific piece of work from one of the world's top investors who has devoted his life to understanding markets and demonstrated that understanding by navigating the 2008 financial crisis well."
--Hank Paulson

"An outstanding history of financial crises, including the devastating crisis of 2008, with a very valuable framework for understanding why the engine of the financial system occasionally breaks down, and what types of policy actions by central banks and governments are necessary to resolve systemic financial crises. This should serve as a play book for future policy makers, with practical guidance about what to do and what not to do."
--Tim Geithner

"Dalio's approach, as in his investment management, is to synthesize information, and to convert a sprawling and multi-faceted issue into a clear-cut process of cause and effect. Critically, he simplifies without over-simplifying."
--Financial Times

"New readers will find it instantly relevant to today's market environment, with central bank action in focus, home prices falling, and doubts spreading about the rise of private investment funds. Only time will tell if we are in the midst of yet another case study for Ray Dalio's theory of big debt crises."
--Wall Street Journal

About the Author

A global macro investor for more than 50 years, Ray Dalio founded Bridgewater Associates out of his two-bedroom apartment in NYC and ran it for most of its 50 years, building it into the largest hedge fund in the world under his leadership. He is now in a stage of life in which he wants to pass along and help people learn about principles that have helped him, especially in markets and the economy. He is a long-running New York Times bestselling author of Principles: Life and Work, Principles for Dealing with the Changing World Order, and Principles for Navigating Big Debt Crises. He graduated with a B.S. in Finance from C.W. Post College in 1971 and received an MBA degree from Harvard Business School in 1973. He has been married to his wife, Barbara, for 46 years and has three grown sons and seven grandchildren. He is an active philanthropist.