Barry Ritholtz, Columnist

How to Manage $2 Trillion If You're New at It

Saudi Arabia is trying to cut its dependence on oil with a new sovereign wealth investment fund. Here's some advice.

June 9, 2016 at 4:40 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

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Saudi Arabia is about to confront a serious challenge: Where and how to invest the money in a gigantic new sovereign wealth fund created as part of an effort to diversify its economy and pivot away from its dependence on oil.

That is going to put a lot of pressure on whoever becomes the chief investment officer for the country's Public Investment Fund, which may end up with responsibility for as much as $2 trillion.