Ray Dalio, the superstar hedge-fund investor who is co-chief investment officer and co-chair at Bridgewater Associates, says one should evaluate the economy and businesses critically, not kindly.

I am bringing this up as I get a sense that many assessments of SA’s medium to long-term economic trajectory have for some time been too kind, and nowhere near critical enough. If we remove emotions driven by our having a vested interest in the country succeeding, the medium-term prospects are less than promising.     ..

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