Dalio Says GameStop Drama Reflects Growing Intolerance in U.S.
(Bloomberg) -- The GameStop Corp. saga is another sign of the growing intolerance among those with opposing views that’s roiling the U.S., according to Bridgewater Associates’ founder Ray Dalio.
“What concerns me more is the general anger -- and almost hate -- and the view of bringing people down that now is pervasive in almost all aspects of the country,” Dalio said in an interview with the Washington Post. “That general desire to hurt one another” is of concern, he said.
While the move by day-traders to bid up the video-game retailer’s shares may look like “rebellion,” it shows they’re beginning to understand the mechanics of the markets -- as are those who are getting squeezed by short bets, he said.
Yet the traders feel somewhat familiar to him, Dalio said.
“They remind me a lot of me at that age,” he said. “I started investing at an early age and I was rebellious and wanted to do it my way and bring it down.”
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