Letter from Sydney

Australia used to be considered a backwater for stock market investment, especially when compared with the tiger economies of Thailand or South Korea, which saw rocketing returns for the brave.

Now, perhaps because of this safe-haven status, the land down under finds itself with a stock market that has been enjoying record highs while London, Frankfurt, New York and just about everywhere else has struggled.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a BillionaireExternal link

Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire