Principled Perspectives
For over 50 years, global macro investor Ray Dalio led Bridgewater Associates, growing it from a NYC apartment to the world's largest hedge fund. He is also a #1 New York Times bestselling author.
- Top in Finance
- #94
- Subscribers
- 121K
- Followers
- 217K
- Recommends
- 6
rounded by Substack
other newsletters
What they write about
Ray Dalio's essays on long-term economic and geopolitical cycles. Recurring subjects include sovereign debt dynamics and how countries go broke, the rise and decline of great powers, US-China relations and history, and the principles he applies to global macro investing.
- global macro
- sovereign debt
- geopolitics
- china
- economic cycles
- investing principles
Recent examples: A Clear and Classic Big Test of U.S. Power · How Countries Go Broke: The Dynamic Behind What is Happening Now
Written from Principled Perspectives’s own published post titles and openings in Sep 11, 2026. It describes the subjects the newsletter covers, not its views, and is not investment advice.
Growth history
Subscribers (thousands, nightly)
115K on Sep 10, 2026 → 121K on Sep 30, 2026
Followers (thousands, nightly)
Rank in Substack’s finance leaderboard: #94 today · #71 a week ago
Stats worth sharing
Tracked since Sep 10, 2026 — 21 daily snapshots so far. The card below is built from what we track and refreshes nightly.
- Percentile
- Top 18%
- Best rank seen
- #28
- Rank, 7 days
- −23 places
- Subscribers added
- +6.0K
- Followers added
- +14K
- Reactions per post
- 692
- Reactions tracked
- 8.3K
of 525 ranked finance newsletters
on Sep 21, 2026
since tracking began
since tracking began
average, recent posts
across 12 posts
Most-reacted post we have seen: It All Comes Down to Who Controls the Strait of Hormuz: The “Final Battle" — 2.5K reactions on Mar 16, 2026.
Recent posts
- A Clear and Classic Big Test of U.S. Power
To me, it seems obvious that we are now seeing a classic big test of the world’s leading great power (the U.S.) that is analogous to the test the British Empire faced (and failed) when the Egyptians seized the Suez Canal from them. With the U.S. publicly threatening all the world’s nations with sanctions if they don’t go along with the U.S. plan to starve Iran into allowing free passage through the Strait of Hormuz, countries will now have to decide either a) to go along with the U.S. plan, which would be a great and obvious success for the U.S. if most countries go along and it works, or b)…
- How Countries Go Broke: The Dynamic Behind What is Happening Now
In my book How Countries Go Broke: The Big Cycle , I laid out a detailed template describing the dynamics of what would likely happen as a result of unsustainable imbalances in the supply and demand for debt. The recent confluence of three events—1) the Japanese government selling some of their U.S. bond holdings to repatriate funds to Japan to support the yen and Japanese capital markets and lessen exposure to US Treasuries without having to raise interest rates more than they would like to support the yen, 2) U.S. bond yields rising to new highs led by the long end, accompanied by dollar…
- My Reflections on July 4th as America Turns 250
- The Tribute System: The New World Order
- Investment Principles: What Should You Do Under Existing Conditions?
- Principled Thinking and AI Need to Go Together
- Why I Recommend Being a Global Macro Long-Short Investor
- Long Island University Commencement Speech
- The Big Thing: We Are In A World War That Isn’t Going To End Anytime Soon.
- The Concept and Mechanics of an All Weather Portfolio
- It All Comes Down to Who Controls the Strait of Hormuz: The “Final Battle"
- Investing In Light Of The Big Cycle
← All trending finance newsletters
Data: Substack public leaderboards and publication archives, refreshed nightly, plus public beehiiv sitemaps and recommendation pages, refreshed weekly. Source for this page: Principled Perspectives. Subscriber counts are Substack’s own rounded public figures, so week-on-week changes move in steps. beehiiv audience sizes are self-reported by the publisher and are not verified. Last snapshot: Sep 30, 2026.