Recently, the Wall Street Journal interviewed Robert Prince, co-chief investment officer of the worlds largest hedge fund Bridgewater Associates.
Mr. Prince told the Journal, “The firm believes we’ll see at least a decade of slow growth and high unemployment in the world’s developed economies as they deleverage their massive debts. What you have is a picture of broken economic systems that are operating on life support. We’re in a secular deleveraging that will probably take 15-20 years to work through, and we’re just four years in.”
Why should you pay particular attention to this forecast as opposed to the talking heads on television who continue to tell you everything is fine? Because it comes from a company with proven results and not from a medium that has to worry whether its advertisers will pull out if they say the wrong thing.
Bridgewater was founded in 1976 as a macro-economic hedge fund. And since 2000, the company’s flagship Pure Alpha fund has been up every year. It’s only had three negative years since 1991.
If their forecast is correct, and we believe it is, our customers who join us in investing in portfolios of charged-off credit card debt will make a fortune! I sincerely hope that you choose to be one of them.
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