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Sep 23, 2025 4:30 AM

Ray Dalio Warns Of 'Very, Very Dark Times,' Says Learning To 'Diversify My Bets' Was The Key To Success: 'A Smart Rabbit Has Three Holes'

Billionaire investor and founder of Bridgewater Associates, Ray Dalio, has issued a stark warning about the economic future. He appeared in a podcast with Steven Bartlett, titled “very, very dark times,” and warned of an uncertain future for major Western economies, including the United States and the United Kingdom.

Ray Dalio Helps Investors Navigate Uncertainty

Citing unsustainable debt levels, deep internal political divisions, and rising geopolitical conflict, Dalio stressed that his own success was built on navigating such volatility, stating that learning to "diversify” his bets was the ultimate key.

In a recent podcast interview, the former hedge fund manager, who divested his remaining stake and stepped down from Bridgewater’s board, was blunt about his pessimism, responding with a simple "No" when asked if he was optimistic about the future of either the U.S. or the UK.

He characterized the U.S. as playing a "risky game," pointing specifically to its mounting financial liabilities. "If I go down my list, it ...