Since the market bottom in 2009, America's billionaires have seen their fortunes and numbers soar to new records.» Read More
Nov 13- Jeffrey Gundlach, co-founder of DoubleLine Capital, said the U.S. stock market is the "only game in town" as the Dow and the S&P 500 closed at record highs on Wednesday, though he would be hesitant to add new money because "I don't like buying high."
That's the upshot from hedge fund guru Ray Dalio, who thinks investing alpha, or outperformance, will be in short supply in coming years. Dalio, the founder of $120 billion hedge fund firm Bridgewater Associates, thinks the Fed is getting diminishing returns from its bond buying.
This could be too tall an order because Washington is already slashing spending on almost everything but the welfare state. To go further, Congress would likely have to make cuts in sacrosanct programs like pensions and healthcare for the elderly, something lawmakers appear loath to do.
Ray Dalio's hedge fund Bridgewater Associates wants to build a new headquarters in Stamford, Conn. But first it has to defeat a group of boat owners calling themselves the SOBs.
Several hedge fund leaders who had giant paydays last year earned their riches the old-fashioned way: by posting big returns on their investments. The New York Times reports.
"Am I a great investor? Not yet," Pimco's Bill Gross writes in an essay titled "Man in the Mirror." The real test of greatness will be adapting to a new era once the epoch of credit expansion comes to a close.