Big Debt Crises
On the 10th anniversary of the 2008 Financial Crisis, Ray Dalio released his extensive groundwork on debt crises in his new title, A Template for Understanding Big Debt Crises. Dalio details his comprehensive study on how debt crises have behaved throughout history. In this three-part research series, Dalio shares his template in the hopes of narrowing the chances of the recurrence of big debt crises and helping readers better handle them in the future.
This template allowed his firm, Bridgewater Associates, to anticipate events and navigate them well while others struggled badly.
“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.”
“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.”