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Bridgewater's Ray Dalio advises being underweight cash due to inflation environment

Tuesday, January 11, 2022
Bridgewater's Ray Dalio advises being underweight cash due to inflation environment © Reuters. FILE PHOTO: Ray Dalio, Bridgewater's Co-Chairman and Co-Chief Investment Officer speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid

By Xie Yu

HONG KONG (Reuters) - U.S. investor Ray Dalio, founder of the world's largest hedge fund, says investors need to be mindful of the current inflationary environment and stop viewing cash as a safe investment.

The comments come as major central banks around the world have started or are preparing to tighten monetary policy to curb rising inflation pressures, even as the Omicron coronavirus variant poses a risk to the global economic outlook.

"The mindset needs to change in which everybody looks at the returns in real terms," Dalio, the founder of Bridgewater Associates, told a virtual UBS Greater China conference this week.

"In other words, inflation adjusted because you want buying power, that's what you're trying to store."

"If you're holding an asset that has very little return virtually and is not volatile, but loses to inflation.., you have to start to look at that and so basically for the most part underweighting or under-using that cash," he said.

Instead, he suggested investors stay very well diversified, in terms of currency and geography, without elaborating further.

Dalio also endorsed China's campaign to promote "common prosperity" among its people. He said Chinese leaders understand a cycle in which the country gets rich first and then makes effort to distribute opportunities in a more equal way.

Bridgewater is one of the most active foreign hedge fund operating in China, since it registered with the Chinese authority in 2016. It now has more than 10 billion yuan ($1.57 billion) of assets under management in China.

"I think a lot of people… tend to make a mistake of thinking that this is like a return to communism under Mao, rather than understanding it's just part of the evolutionary process," he said. "I think the United States through its own system needs more common prosperity and a lot of countries do."

($1 = 6.3722 Chinese yuan renminbi)

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26-01-2022 09:29:17 (UTC+7)

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 EUR/USD1.1295↑ Buy
 GBP/USD1.3514↑ Buy
 USD/JPY114.25↑ Sell
 AUD/USD0.7168Neutral
 USD/CAD1.2581↑ Buy
 EUR/JPY129.04↑ Buy
 EUR/CHF1.0380Sell
 Gold1,834.60↑ Sell
 Silver23.718↑ Sell
 Copper4.4968Sell
 Crude Oil WTI86.40↑ Sell
 Brent Oil88.16↑ Sell
 Natural Gas4.129↑ Sell
 US Coffee C238.70↑ Sell
 Euro Stoxx 504,172.25↑ Sell
 S&P 5004,356.45↑ Sell
 DAX15,476.89↑ Sell
 FTSE 1007,504.34↑ Sell
 Hang Seng24,289.90↑ Buy
 Small Cap 20002,004.80↑ Sell
 IBEX 358,666.43↑ Sell
 BASF67.675↑ Sell
 Bayer51.60↑ Sell
 Allianz224.57↑ Sell
 Adidas245.40↑ Sell
 Lufthansa7.069↑ Sell
 Siemens AG141.69↑ Sell
 Deutsche Bank AG11.462↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,190/ 6,240
(-5/ -5) # 1,175
SJC HCM6,180/ 6,245
(-10/ -10) # 1,179
SJC Hanoi6,180/ 6,247
(-10/ -10) # 1,181
SJC Danang6,180/ 6,247
(-10/ -10) # 1,181
SJC Nhatrang6,180/ 6,247
(-10/ -10) # 1,181
SJC Cantho6,180/ 6,247
(-10/ -10) # 1,181
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