they were built at bridgewater and i want to pass them along. somebody insual for your position, somebody managing investments and running the company of bridgewater, to write a book like this. how did you find the time? >> i have been writing these down for 20 years. that into a habit recommend to you or anybody else. whenever i am faced with a decision, i think about the criteria for the decision and i write them down. the same things happen to us over and over again. if i am making mistakes and learning, it is a good exercise. thetually, i put these into investment process. i have accumulated these. i did not feel good about putting the principles out generally. we got the financial crisis and got attention, some people gave us attention and i didn't want the attention. , thought it was not understood the principles of our company .hat made them successful a put them on our website and they were downloaded 3 million times. people found them helpful and a time came when i thought i would gather all of these together and i have transitioned fro

tonight a conversation with jazz legend dee dee bridgewater. known for her powerful vocals and scat singing, she's led a multifaceted career spanning multiple decades and will be honored with the ascap award honoring her humanitarian efforts. she joins us tonight to discuss her eagerly anticipated project "memphis ... yes, i'm ready," then a performance from blues quintet southern avenue. we're glad you've joined us. all of that in just a moment. ♪ >> and by contributions to your pbs station from viewers like you. thank you. ♪ >>> so pleased to welcome dee dee bridgewater back to this program. she has been at the forefront of jazz music for the past four decades now. she's won grammy awards, a tony award, and is one of this year's national endowment of the arts jazz masters. her latest album is called "memphis ... yes, i'm ready." and how could you not love that album cover? [ laughter ] i assume that's you a few years ago. >> yes, just a few. >> just a few? >> just a few. [ laughter ] >> well, i saw this title, "memphis ... yes, i'm ready," my

ray dalio, bridgewater associates' founder.l street week" right more "wall street week" right sfx: loud poorly played electric guitar that sounds awful seriously, awful but a lot better than last week ♪rock guitar music ♪we weren't born to follow ♪ ♪ maria: now a look at some of the big market events coming up in the week ahead that could impact your money, and we want to look at the economic stories of the week. housing data, new home sales, case-shiller home price index are all due out in the week ahead. also on the docket, consumer confidence. that typically is a market mover. second quarter gdp numbers and personal income all in the week ahead. turning to earnings, nike is going to be reporting its quarterly numbers on tuesday, then later on in the week pier one will report as well as blackberry and rite aid, all among the earnings stories. on the political front, president trump is expected to give a speech in indiana next to champion tax reform. then on wednesday the republicans are expected to release the framework for t

ray dalio, bridgewater associates' founder. more "wall street week" right my name is jeff sheldon, and i'm the founder of ugmonk. before shipstation it was crazy. it's great when you see a hundred orders come in, a hundred orders come in, but then you realize i've got a hundred orders i have to ship out. shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everything's pretty much done. it's so much easier so now, we're ready, bring on t. shipstation. the number one ch of online sellers. go to shipstation.com/tv and get two months free. ♪ ♪ maria: now a look at some of the big market events coming up in the week ahead that could impact your money, and we want to look at the economic stories of the week. housing data, new home sales, case-shiller home price index are all due out in the week ahead. also on the docket, consumer confidence. that typically is a market mover. second quarter gdp numbers and personal income all in the week ahe

ray dalio, bridgewater associates' founder.e "wall street week" right more "wall street week" right today, we're out here with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symp

ray dalio, bridgewater associates' founder.l street week" right enamel is the strong, white, outer layer of your tooth surface. the thing that's really important to dentists is to make sure that that enamel stays strong and resilient for a lifetime the more that we can strengthen and re-harden that tooth surface, the whiter their patients' teeth are going to be. dentists are going to really want to recommend pronamel strong and bright. it helps to strengthen and re-harden the enamel. it also has stain lifting action. it's going to give their patients the protection that they need and the whiter teeth that they want. ♪ you each drive a ford (all) yes.ght? i'm going to show you a next generation pickup. awesome. let's do this. the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. stronger the better. and best of all, this new truck is actually- (all laughing) oh my.... the current chevy silverado. current chevy owners and lessees get a total value of ten-thousand, six hundred dollars. or, 0

lead to and, a conversation with bridgewater associates founder to find out what qualities keep things a great leader needs. the unitedtraight to nation's assembly and president donald trump. only becauseit is of the united nations that that turned out to be such a successful project. so, i want to thank ambassador haley for that marvelous introduction and your fighting for american interests on the world stage. on behalf of the cohost countries, i would also like to think the secretary -- to thank the secretary-general who has been fantastic. we reaffirm our commitment to united nations reform.

charlie: is it the decision-making that you have been doing at bridgewater? have been doing this for five years. charlie: but you also have intelligence. ray: an algorithmic decision made. it is a language. an algorithm is just like writing. it specifies those criteria. you know the brain is 89 billion euros -- neurons. those are little computers. charlie: an interesting slip of the tongue from euros to neurons. ray: people in my business do that. they are programmed to, literally, that way. data comes in and that is how we make decisions. we take the criteria and we can specify those. we have those computers make decisions in parallel with us. it's like using the gps. where does instinct and hunch plan to this? ray: it is critical. it is the subconscious. the brain is much older. and we can program many of the things. it is in our subconscious. , they,.ng up creativity. it comes from relaxation. it has been invaluable to me because it helps do that. creativity.on, that let that bubble up and you have to reconcile it with your logic. so in the subconscious cr

coming up, when we return, ray dalio, bridgewater associates is going toe bour special guest. just a moment a very big hour coming up. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. it's life insurance and wharetirement solutions toic? help you reach your goals. it's having the confidence to create the future that's most meaningful to you. it's protection for generations of families, and 150 years of strength and stability. and when you're able to harness all of that, that's the power of pacific. ask a financial advisor about pacific life. >>> the final hour of "squawk box" begins right now. skblienchts live from the most powerful city in the world, new york this is "squawk box." >>> good morning welcome back to "squawk box" here on cnbc live from the nasdaq market site times square the fed will kick off a two-day meeting today. let's get a check on the markets. the futures right now, this would be, i think, like five straight records for the

. ♪ ♪ is here, thedalio founder, cochairman, a bridgewater -- of bridgewater associates.eated the firm in 1975. today, it is the largest hedge fund in the world with assets around $160 billion under management. has called bridgwater the fifth most important private company in the u.s. the firm's success is anchored in its unconventional culture that emphasizes values like radical transparency and truth. he expands on those ideas and more. i am pleased to have him back at this table. welcome. tell me the motivating reason to put this together for you. why did you want to write this? others make decisions better and be more successful. i was originally very reluctant to share some of these principles. they were internal. charlie: because you thought they lead you to enormous achievement in the investment world and perhaps personally as well, and therefore you did not want your competition -- >> i don't like public attention. i would rather have privacy. but when we made -- we were successful anticipating the financial crisis, we received a lot of attention. because we opera

scarlet: that was the founder of bridgewater associates. for more insight on what he is doing, let us bring in our reporter. thank you for joining us. bridgewaterhink went from so secretive to opening the book on sharing their secrets that have -- sharing their secrets? >> it is interesting. big of me thinks that a part of the radical transparency is to put your ego aside and take feedback and the information as you get it. i think part of it relates to dalio's ego. sincebeings have had egos we have lived in caves. he has been accused of the corporate culture at bridgewater being so intense and oppressive it is almost cult-like. is advancedsay, it management. it would be a self-realization of what he has always been saying. the corporate culture has been criticized, yet successful. there is no doubt he has reached the end of his career. is legacy he wants to build one he hopes will help american business through what he believes to have been a component of his success. whether these tools actually will be is a tremendous debate. -- is of tr

is that emma bridgewater of emma bridgewater? yes. you may have heard of emma bridgewater.assics. i went to meet the pair for their only uk tv interview. welcome to both of you. can i get you first, jan. how would you describe bill's singing? i read a review this morning and the headline was that he said he is a great singer and extremely entertaining at the same time. i think that is well put. # things you are liable to read in the bible #it ain't necessarily so... have you always sung privately for your own entertainment? people in hotels know i can sing. i used to take long committed showers and sing in them. i think people were surprised i have a voice left. usually when you become mature like this your voice is already tired out. but i got a lot of rest. some of the songs on the album may surprise people. for example you sing i feel pretty. you have a problem with that, charlie? no! # i feel pretty # i pity any girl who isn't me tonight. how do you approach something like that? if you just say to yourself, i feel pretty five times, something would happen to you. your b

bridgewater was one of the few hedge funds to make money during the 2008 crisis.f set down with erik schatzker and gave him a sentiment of policymakers. policy,i take monetary i think they have done a remarkable job. we have had what i call a significant beautiful d e-leveraging. francine: the comments, head of the tuesday policy meeting. economists think officials will announce -- in october. joining us now is tony. fed, how do you view the machinations at the moment? can we talk about the end is my for qe? >> qe certainly is over. qt is about to begin. that is quantitative tightening. it is illogical to think that quantitative easing will help markets, but quantitative tightening want hurt. it seems markets are taking quantitative tightening in stride. janet yellen has said, like watching paint dry. we could imagine situations next year where yields start to move away from the low-end of the recent trading range as markets get nervous about something. francine: we've said that for such a long time. , what end of this is interest rates are anchored by is what we

fortune magazine has called bridgewater the fifth most important private company in the u.s. the firm's success is anchored in its unconventional culture which emphasizes values such as radical transparency and radical truth. dalio expands on those ideas and more in principles: life and work. i'm pleased to have him back at this table. welcome. >> thank you. >> rose: now so tell me the motivating reason to put this together for you. >> why did you want to write this? >> to help others. make decisions better. to help them be more successful. i was originally very reluctant to share some of these principles. they were internal. >> rose: because you thought they had lead to you enormous achievement in the investment world and perhaps personally as well, and therefore you didn't want your competition. >> i don't-- i don't like public attention. i would rather have privacy. but when we made-- we were successful anticipating the financial crisis, we received a lot of attention. and because we operated with such different principles, i had a unique culture t became some what distort

thenversation with billionaire founder and cochairman of bridgewater associates.th bloomberg's eric at bridgewater's headquarters, that is that 5:00 p.m. eastern time, 10:00 p.m. london on sunday. ♪ ♪ jonathan: from new york city for our viewers worldwide, i'm jonathan ferro with 30 minutes dedicated to fixed income. this is "bloomberg real yield." ♪ jonathan: coming up, global reflation shows signs of life. chinese ppi beats estimates, u.s. price pressures grind higher. central banks react. the bank of canada gives a surprised hike. the bank of england gives off its first in a decade. the reach for yields shows no sign of ending. austria with a yield of just 2.1%. we begin with a big issue. global reflation showing signs of a comeback.

bridgewater planning to launch a china investment fund. what can you tell us about this?i started to go to china in 1984 not for money, because the curiosity. they invited me over to teach them about the financial markets. i developed wonderful relationships with the people there. when they formed the financial markets in 1989 and 1990, there were seven people in a rundown hotel room put together by these various companies to make financial markets. over that period of time, i've been lucky enough to have those people as friends and build relationships. and help them to develop some of their financial markets. an extension of that is that when they're opening up to the world for investment, that it's something we want to do. we have been managing money since 1993 for chinese institutions outside now their capital markets are developing we want to invest inside for investors who want to be inside and chinese investors who want to invest. >> what do the chinese think of us, the u.s. right now, of president trump, of the politics of the moment and our economy? >> i don't kno

coming up this weekend on bloomberg television, a conversation with the president of bridgewater associates. he shares rare insights that have governed the principal of his four decade career. and we discussed his new book, principles. that is at 5 p.m. eastern sunday. shery: jos coming up, the parenf google is considering an investment in lyft. we will bring that storage unit. this is bloomberg. -- we will bring that story to you next. this is bloomberg. ♪ shery: this is bloomberg markets. it is time now for our stock of the hour. we are looking at carnaval, down at more than 5%, recouping some of the losses but the biggest moves in september of last year, then an analyst downgrade, emma chandra now joining us. rises in the downgrade, we have seen hurricanes hit the travel industry. emma: that came from credit markets, china, the mediterranean and the caribbean. they were talking about the impacts of hurricane irma, hundred percent of the caribbean has been destroyed. there are fewer people that want to take vacations there on crew ships. places like the u.s. virgin islands. this is actual

alix: i found that story about bridgewater interesting. for years but it is hard with the due diligence. it is hard to know what you are investing in in china. he has developed a relationship with the chinese government where they really trust him. that he has incorporated some principles of chinese leadership into bridgewater's principles. jonathan: interesting to see what populism means for the and that isina, what he means. i would love to get more thoughts on that. david: we are going to stay with china. there are signs of a resilient domestic demand. reduce or price inflation was higher than expected last month and factory prices rose 6.3% in august. joining us here on set is michael mckee, our international economics and policy correspondent. bloomberg survey 38 economists. this beat all but one estimate. mike: if he is running a global macro fund in china, he will do ok. shows the producer price index in china has been rising since the beginning of 2016. this is often seen as a proxy for gdp in china. is the chinese party congress.

steve, thank you very much for joining us >>> we have a big newsmaker coming up later this morning bridgewater's ray dalio sitting down with the "squawk box" team. catch that interview at 8:00 a.m. eastern on cnbc >>> turning to today's wall street agenda it's all about the fed. maek makers will kick off o day meeting this morning look for august housing starts and building permits at 8:30 a.m. eastern, along with import prices and current account figures. auto zone reports before the opening bell adobe, fedex and bed bath & beyond are out after the close >>> in corporate news, equifax revealing it was hit with a second cybersecurity attack. landon dowdy has details of that >> that's right a one-two punch for ecb. the credit reporting agency acknowledging it faced a second security incident earlier this year this is splis separate froe breach announced last week which exposed the personal information of 143 million consumers equifax is denying that. in a statement the company says the two incidents are not related and that it has complied fully with all consumer notification requirements relate

bridgewater's associate director will be here. i will see you sunday morning.10:00 a.m. that will do it for us >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,

bridgewater's associate director will be here. i will see you sunday morning.he program at 10:00 a.m. that will do it for us on "wall street week." now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,

on bloomberg television this week, a conversation with ray dalio from bridgewater associates.sights behind his four decades career of the foremost investor. that is 5:00 p.m. eastern sunday. this is bloomberg. ♪ julia: "what'd you miss?" alibaba executive chairman jack ma says he does not believe we are headed for another technology bubble burst. despite short-sellers, say they are poised for a full. stephen engle spoke exclusively with the jack ma during alibaba's 18th anniversary celebration. think the next 18 years, the globalization, trade, will be better, because of the internet. this is our mission. an electronic traded platform. we are making sure a small business, young people can benefit from that. for us tos enough improve globalization instead of killing globalization. i believe when trade stops, war starts. when we change our u.s. strategy, we want to help the u.s. small and medium sized companies to sell to china and asia. we do not want to be a local e-commerce company. amazon, ebay, so many nice companies all over the usa. you do not want to take on amazon. ente

. >>> i'm tavis smiley coming in next time for a conversation with jazz legend de de bridgewater.s next time. we'll see you then. that's next time. we'll see you then. ♪ -- captions by vitac -- www.vitac.com >>> and by contributions to your pbs station from viewers like you. pbs station from viewers like you. thank you. - today on america's test kitchen, julia prepares the ultimate semolina gnocchi, jack challenges chris to a tasting of balsamic vinegar, and bridget cooks italian sausage with grapes and balsamic vinegar, right here on america's test kitchen. america's test kitchen is brought to you by dcs. dcs: manufacturers of professionally styled indoor and outdoor kitchen equipment. at dcs, our mission is design that delivers,

tonight a conversation with jazz legend dee dee bridgewater. her powerful vocals and scat singing, she's led a multifaceted career spanning multiple decades and will be honored with the ascap award honoring her humanitarian efforts. she joins us tonight to discuss her eagerly anticipated project "memphis ... yes, i'm ready," then a performance from blues quintet southern avenue. we're glad you've joined us. all of that in just a moment.

. >>> i'm tavis smiley coming in next time for a conversation with jazz legend de de bridgewater.s next time. we'll see you then. that's next time. we'll see you then. ♪ -- captions by vitac -- www.vitac.com >>> and by contributions to your pbs station from viewers like you. thank you. >>> good evening, i'm tavis smiley, more than a dozen states have found lawsuits challenging president trump's shutdown of daca, and divisions within the gop opened up on immigration issues, and countonight we'll t with that with dolores huerta. we're glad you could join us, coming up.

. >> reporter: as for economic growth, ray dalio, who runs bridgewater, the largest hedge fund in the country, says i think so we're in a kind of 2.5% zone for growth. here's why. >> we're probably in a 2.5% growth environment. the real question is to some extent whether you can unleash the productivity by some of the changes that a pro-business environment can produce. i think there was more hope for that. >> reporter: and speaking of growth, jamie dimon of jpmorgan chase says that 2.5% growth, he doesn't view that as a new normal. here's why. >> if we did things right, we would be growing at 3%. but this growth that away had over the last eight years has averaged a little less than 2%. it's half of the normal, okay? a little long recovery. but it's half of what we would have had in a normal recovery. >> reporter: all in all, sue, a big day of big thought and big insights from the delivering alpha conference here in new york city. it was a day where we heard from the treasury secretary and some of the really top people in the world of hedge funds, private equity, and institutional in

>>> the found over the largest and most successful fund, bridgewater.his two-bedroom apartment. now he has 1,500 employees and manages over $215 billion. now he's out with a new book "principles: life and work." he credits it for bridgewater's success. published by simon & schuster, a division of cbs. we're pleased to have ray dalio at cbs. >> thank you. >> talk about how you see it and what has been the trump administration's impact on the economy. >> two parts. the economy is in the ideal part of its cycle, business cycle, which means that it's not too hot and it's not too cold and the fed shouldn't tighten monetary policies. on the other hand it has a lot of debt and obligations. debt and obligations, health care obligations. when democrats play a role, that's going to gradually squeeze things. and the most important thing is not to talk about the economy but to realize there's two different economies. there's the economy for the top 40%, let's sea, and the economy for the bottom. when we think about the trump presidency, we're dealing with the confl

and its at bridgewater, is also a complicated place to work, i have heard.thers do not get it and move on. it is an interesting laboratory experiment. jonathan: something you may tolerate for a bridgwater paycheck? steve: there are other big firms that have a paycheck out there. jonathan: as somebody who runs a firm, would really be the -- what would be the biggest difficulty? steve: from all of this transparency, do you get a better culture that is moving forward, more in unity, or do you get commotion? he told me i didn't do a good job, they have meltdowns, career crises, the rest of that. shockk it would be a huge to the system. sometimes, shocks to the system can produce for emotion, sometimes they can send you into disarray. jonathan: steve rattner, always great to have you. coming up, jane harman will be joining us. from new york, a brand-new trading week. equities at all-time highs. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪

bridgewater's dalio spoke later at the event and said if cohn chose to leave the administration all together>> i would say if he was to leave, it would be terrible. because it would be terrible in two dimensions it would jurnld mine the future progress of economic reforms and so on. and it would also represent a challenge in putting together administration >> reporter: now, dalio said his biggest concerns are things like the wealth gap and social conflicts as well as burdens in the form of debts and pensions, kelly. >> yeah, well, the -- i mean, we don't even have time to start talking about pensions, but i'm glad he mentioned it there was a lot of good stuff to come of that that will be one for future conferences. leslie, thank you very much. >> reporter: thanks, kelly. >> leslie picker. >>> royal caribbean is relaunching boats from miami and ft. lauderdale today after hurricane irma ravaged those cities ceo richard fain will join me with the company's plans to get back in the water and its relief fos ghafr is ing right now? we're facing 20 billion security events every day. ddos campaigns,

he had one opponent in the democratic primary, sheriff flynn, bridgewater, fiercely attacked him andonly had one issue which is we want to be representative a man with such low character, several contentious debates and gerry studds crushed him in the democratic primary. this is really quite -- in the general election his republican opponent someone who as a boy lived in his neighborhood and had dinner at his house on numerous occasions. one of gary's staffers told me, worked for him in 1984 said bobby, the mother, was furious that lou would run against gerry studds when he was 10 years old. he won the election, the year of the reagan landslide i remind you. very few people noticed this, but it was a revolution. a gay person having been censored by congress, ran for congress and won. it indicated a change in the atmosphere. gay people had noticed this but it was lost to the public that there had been this change in atmosphere. there were two major issues i am going to talk to you about in gerry studds's career in congress now that he's out. the first with aids. we see the surgeon gen

lead to and, a conversation with bridgewater associates founder to find out what qualities keep things great leader needs. the unitedtraight to nation's assembly and president donald trump. only becauseit is of the united nations that that turned out to be such a successful project. so, i want to thank ambassador haley for that marvelous introduction and your fighting for american interests on the world stage. on behalf of the cohost countries, i would also like to think the secretary -- to thank the secretary-general who has been fantastic. we reaffirm our commitment to united nations reform. reform is what we are talking about. i applaud the secretary-general in his unveiling a reform project we support. to find ways that the united better can be better and development, management, peace, and security. the united nations was founded on truly noble goals good these include affirming the dignity and worth of the human person, and striving for international peace. the united nations has advanced these goals in so many ways, feeding the hungry, providing disaster relief, and empowering w

this weekend, the conversation with ray dalio, the billionaire and cope founder and chairman of bridgewatersunday. speaking of guests, coming up, our next guest says there are great opportunities when it comes to the credit space, but smart investors need to look beyond relative value. there we go. that is your next guest. that's after the break. this is bloomberg. ♪ david: this is "bloomberg markets: asia." let's get you caught up on the business flash headlines. fortescue metals says the ceo will stand down. is consistentn with its long-term succession plans. shares down more than 2%. the climbed more than 6% since he took the ceo job in july 2011. an investor group led by chemchina is now looking to raise $3.9 billion from a sale of up to 40%. shares of the obtained company will be sold between $7.50 and $10. it was delisted after being on the italian stock exchange for 90 years. considering the sale of a auto-parts business with the price tag of $1.5 billion. sources have told us that he is working as an advisor on that sale. the company makes engine gaskets and sealants. he does not be

the founder and author and ceo of bridgewater associates, ray galliano is hearing an exclusive and thealk about concussions. top story, north korea lashing out, the kingdom threatening to detonate a hydrogen bomb over the pacific ocean. kim jong un says, quote, i am now thinking hard about what response he could have expected when he allowed such eccentric words to drip off his tongue. whatever trump might have expected he will face results beyond his expectations. donald trump tweeted kim jong un who is obviously a mad man who doesn't mind starting or killing his people will be tested like never before. all this after the president warned this week that the us could, quote, totally destroy north korea if north korea forces the us to defend itself. ambassador to the united nations nikki haley echoed the comments. >> we don't want war. that is the last thing anyone wants. we don't want loss of life. at the same time we are not going to run scared. if for any reason north korea attacks the united states or our allies, the us will respond, period. that is what is going to happen. dagen: t

julia: that was ray dalio founder of bridgewater associates.up come hillary clinton saying she made a mistake when she gave speeches on wall street after leaving government. her old boss doesn't seem to share that concern. more on barack obama's transition to wall street next. this is bloomberg. ♪ shery: this is bloomberg markets. i'm shery ahn. julia: i'm julia chatterley. president obama has made the well trodden transition to wall street. in new yorke spoke to clients of northern trust for $400,000. next week the former president will appear at the health care conference with the same amount. he will also be speaking to the carlyle group for an undisclosed figure. we kind of hinted that hillary --nton said in her book that i did this washington to wall street thing and i regretted it. it's different for obama because she has plans to go back. i spoke to obama's friends on wall street. they all said that pretty consistently. he's a private citizen. giving speeches to successful people, no problem with that. jeff hauser who is the head of the

coming up on bloomberg markets, on sunday, ray dalio, the founder of bridgewater associates, one of theedge funds, he shares rare insights behind the principles that have governed his four decade career as one of the world's foremost investors. 5:00 p.m. eastern on sunday and 10:00 p.m. in london. vonnie: i will be tuning in. brokerage assembling to prepare for the new european union rules that take effect january, a special take on this -- mifid 2. ♪ ♪ vonnie: that is london, it does not look like winter yet, you are looking for to much of a. i am -- too much sympathy, i am vonnie quinn. mark: the new european rules known as mifid ii take effect in january and why banks and brokers have to hurry to comply. stocks and bonds have bounceback since the 2008 financial crisis. the public trust however has not recovered. not with high-speed trading, next lane volatility, and banking scandals creating the sense that financial markets are unfair. many politicians and regular sea level in the playing field as unfinished, close crisis cleanup . a vast set of new european union rules known as mifi

. >>> also speaking at delivering alpha, bridgewater boss ray dalio said delays to trump's reform agenda dampened the growth outlook >> we're probably in a 2.5% type of growth environment. the real question is to some extent whether you can unleash the productivity by some of the changes that a pro business environment can produce. i think there was more hope for that, for a pop in that productivity, structural changes. but i think now the problems of the conflicts have slowed all that down. so we're looking at something like 2.5% or 3% environment. but we have gotten past the worst of the whole deleveraging. >>> let's bring in mike bell, global market strategist now from jpmorgan asset management lovely to see you. first off, let's start with the u.s. context the treasury secretary's comments about tax reform seem to give the green light to the market but it means valuations are even more stretched now how do we approach u.s. equities >> i think the key thing, if you look at expectations for tax cuts, they're not in analysts estimates. there's been an assumption because 12-month forward

trading >> also had a chance to sit down with ray dalio, founder and ceo of the largest hedgefund, bridgewater associates he talked about north korea's rising risks to the markets and the administration's strategy. >> i think that this can have gio political implications in other words, what korea can reshape the whole asia region is like countries in that region think who am i going to be affiliated with, how does that work so this will have implications all through the -- all through the region >> another big notable moment of the interview, dalio mentioned the implications of losing garrett kohn in the white house. here's what he said. >> if he was to leave, it would be terrible. because it would be terrible in two dimensions it would undermine the future progress of economic reform and so on, and it would also represent a challenge in putting together administration. >> powerful words from ray dalio, perhaps with an audience of one, being president trump in his efforts to try to keep mr. cohn in that role, at least for now. also saying he might be a good fed chairman so we'll see about tha

you don't want to miss "wall street week" with the founder of bridgewater associates. >> no.n we looked at 2008, we could see at the time when we did the calculations of individuals, companies and so on, we could see that they were not going to have the cash flows to service their debts. that's not the case now. charles: that's tonight, a special time, 9 p.m. eastern right here on fox business. >>> i've got breaking news. late today senator john mccain ghei the latest gop health care -- gave the latest gop health care plan the thumbs down. will this doom the nation to a single-payer system? that's next. ♪ ♪ finish infrastructure mlps? think again. it's time to shake up your lineup. the alerian mlp etf can diversify your equity portfolio and add potential income. bring amlp into the game. before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp charles: senate republicans facing a sepr 30th deadline to repeal and replace obamacare, but the new effort may be dead on arrival with key votes now

coming up on bloomberg television, a conversation with the billionaire founder of bridgewater associateso talks about the four decades of principles that guided his career. that is a 5:00 p.m. eastern time on sunday. and a quick reminder, catch all our interviews and the press briefing with sarah huckabee sanders on tv , if you are a client. tv . this is bloomberg. ♪ scarlet: 2:00 p.m. in new york, -- i'm scarlet fu. julia: i'm julia chatterley. welcome to bloomberg market. ♪ scarlet: we are live at bloomberg world headquarters in new york over the next hour. here are the top stories we are covering on the bloomberg and around the world. set toth korean threat take center stage at the united nations next week, but the u.s. ambassador nikki haley warning that the security council may have run out of options. entered -- and banana republic struggling to stay a float the company looking at old navy as it might line -- as the lifeline. atsident trump lashed out espn on twitter, demanding for an apology from one of the host. sixth riggs, this is the straight day of gains for the tao?

maria bartiromo sat down with the bridgewater associates' founder and asked him about the state of the. stock market. let's listen. >> no. unlike 2007 when we looked at 2008, we could see at the time that when we did the calculations, individuals, companies and so on we could see that they were not going to have the cash flows to service their debts. that's not the case now. connell: all right. to the floor show. we have traders today at the new york stock exchange, cme group and nymex. that's matt cheslock at nyse, mark sebastian and alan harry at the nymex. matt, let me go to you, new york stock exchange, on this question about valuations. it doesn't seem like much stops this rally. understand we're down a little bit, basically flatted today, but what do you make of where we are? >> listen, we've had nine straight up days in the dow, so it's about time we have a small pullback. and you're not going to be buying this dip. this isn't what we're looking for. this market continues to grind higher on sector-related moves. so certain sectors are taking us higher while one or two give back.

gloria is calling in from bridgewater, new jersey on our republican line. good morning.aller: good morning. i am calling in regard to health care. i listen to the senate hearings quite a lot and want to make a comment. talking lot of people about how wonderful the health care system is in canada, that it is much better than ours. we have a different system. and also, england. when those people have serious problems, they come to the united states for assistance. i have friends in england who had a problem with his neck and he came here for surgery. friends in canada that were pregnant and the weight is -- wait is long. the one in canada were pregnant and would have to wait several months to get care. i wanted to put in that comment. i want to complement john mccain for his stance. i am a republican. , when they were working on obamacare, the head hearings open for a year. the republicans did not participate. they could have participated but did not. host: the senate finance committee is scheduled a hearing for monday on the graham-cassidy act, under the gun, if they want