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David Hume

March 19, 2012

The first words in the Template for Understanding are: “The economy is like a machine.” Clearly Ray Dalio is brilliant at making money, but that’s a heck of an odd thing to say.

Last year Ray Dalio’s hedge fund made $13.8 billion (€10.5 billion). Since he launched the fund – which has the fist-pumping, Bon Jovi-soundtracked name of Bridgewater Pure Alpha - back in 1975 he has made $35.8 billion, making him the most successful hedge fund geezer ever.

December 31, 2011

Scottish philosopher David Hume is most famous for his work on induction, arguing that we can’t ever know that the future will resemble the past. That could be the motto for 2012. 

During the summer - in the lull between the Arab Spring and the autumn, when the sovereign debt crisis grew up and became the eurozone crisis – there was a mildly diverting bit of banter in the Financial Times about which philosopher best illuminated the current state of the world, economically-speaking.

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