Throughout our history, Bridgewater has focused on building the best possible understanding of global economies and markets. These unique insights drive our innovative investment management, inform global economic policy, and deliver returns for our clients. Here is a collection of our best thinking and insights so you can learn more.
Daily Observations is Bridgewater's flagship research publication. For over 40 years, it has grown to become a daily must-read analysis for thousands of investors and policy makers around the world. Here are a few examples of our research.
What Monetary Policy 3 (MP3) Will Look LikeDaily Observations | February 2016
As discussed yesterday, it seems intuitively obvious to us, and is in keeping with our experiences, that four factors drive relative economic growth – competitiveness, indebtedness, culture and luck. These are not independent influences so we could configure them in different ways.Read
Thoughts on the Oil Investment Cycle
Daily Observations | March 2016
We are in the midst of the fourth major oil investment bust since 1900, and while this cycle is different in some critical ways (particularly the speed at which investment translates in to output), the big picture process is the same as in previous cycles.
How Regulatory Constraints Are Changing the Credit Machine
Daily Observations | December 2015
After the financial crisis, global bank regulatory bodies established a number of new banking regulations which are having important effects on the credit machine.
Some Thoughts on Why European and Japanese QE Are Proving Insufficient
Daily Observations | October 2015
The Fed ended QE in October 2014, and in the early part of 2015 that withdrawal of dollar printing was initially offset by an improvement in private sector credit creation and large quantitative easings in Euroland and Japan.
Additional Thoughts on "Why We Believe That the Next Big Fed Move Will Be to Ease (Via QE) Rather Than to Tighten"
Daily Observations | August 2015
To be clear, we are not saying that we don't believe that there will be a tightening before there is an easing.
Three Questions That Every Fund Should Ask Themselves
Daily Observations | July 2015
Stepping back from the market action, we want to pause for a moment and share some thoughts about longer-term investment strategy that have been part of our recent client conversations.
Getting a Picture of Growth Rates at the End of the Monetary Policy Supercycle
Daily Observations | May 2015
Monetary policies around the world are today about as accommodative as they have ever been, but the response of the global economy to this stimulation remains well below normal.
Mario Draghi and the ECB Change the Path
Daily Observations | January 2015
Before we look at the details of the ECB's announced step, we want to put this step within the context of the path, especially since we believe that this step signifies a change in the path.
Formula For Economic Success - Part 1
Daily Observations | October 2012
As you know, we think the economy works like a machine and we think of ourselves as practical mechanics – or, if you prefer, we think it works like a body and we operate like a doctor.
Formula for Economic Success – Part 2
Daily Observations | October 2012
As discussed in yesterday’s Observations, we believe that four factors drive relative economic growth - competitiveness, indebtedness, culture and luck.
A Modern Day D-process: A Less Traumatic Result Will Result From Increased Dosages of Money
Daily Observations | April 2009
For the first time in history central banks (most importantly the Fed) are producing enough money to make up for contracting credit as an antidote to the D-process.
The Biggest Mistake in Investing
Daily Observations | April 2004
We generally use this communication to comment on the economies and markets, but today wanted to make a brief comment on investing.