Ray Dalio's Investing Philosophy

It seems that Ray Dalio doesnot base his trading decision on the under or overvaluation of financial assets, he instead traded based on the prediction of future price movement. The attribute price movement not unpon the traditional market supply and demand theory, but more practically, transactions. By research deeply into the forces behind market movements based on historical data and the mechanism of economic world, Dalio was able to make bettings that have consistent returns.

Ray Dalio's success demenstrates the difference between stock market and the derivative market. From a value investing's perspective, Ray Dalio is more of a speculator than an investor.