Ray Dalio warns 'cash is trash' as Warren Buffett sits on $128 billion
The advice from the billionaire founder of Bridgewater Associates, the world's largest hedge fund, contrasts with the stance of Warren Buffett, whose Berkshire Hathaway conglomerate was sitting on $128 billion in cash at last count.
Dalio warned the value of hard currency would be eroded by a weaker dollar and growing money supply. He recommended investors build a globally diversified portfolio that includes"The depreciation of the exchange rate and the printing of money over the next few years is going to be the biggest thing," he said. "Cash is not gonna be good."
, Bridgewater Associate boss Gregg Jensen told the Financial Times that Gold could spike 30% to a record high of over $2,000 an ounce as central banks allow inflation and political fears mount." if they hoarded cash while stocks soared. The three main US stock indexes — the Dow Jones Industrial Average, the S&P 500, and the Nasdaq — are currently trading close to record highs.
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