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Ray Dalio, founder of world's largest hedge fund warns against Trump policies

Thursday, February 02, 2017

Komfie Manalo, Opalesque Asia:

Ray Dalio, the founder of Bridgewater Associates, the world's largest hedge fund, on Wednesday warned clients against the worrying populist policies of the new Donald Trump administration, which he described as potentially damaging to global growth, various media reported.

Dalio's statement was a complete turnaround from his earlier pronouncement in November last year when he said that based on his "very preliminary" assessment of the Trump election victory in the U.S. presidential election as "broadly positive."

Bob Prince, co-chief investment officer at Bridgewater, echoes Dalios sentiments and said, "We are now in a period of time when how this balance tilts will be more important to the economy, markets and our well-beings than normally dominant drivers such as central bank policies."

A report by City AM quoted both Dalio and Prince as saying that Trump's populist program could be harmful to the pro-business policies that have helped the stock market to rally immediately after the November election.

They warned that the populist policies could be potentially detrimental to the global economy in the long-term.

"While there is a lot of potential to improve fiscal policies and make beneficial structural reforms, there is also a significant risk that his populist policies could hurt th......................

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