Billionaire investor Ray Dalio, who founded world's largest hedge fund Bridgewater Associates, thinks there is a relatively high chance the U.S. economy will stumble into a recession before the next presidential election in 2020.
Dalio said the U.S. economy is not currently in a bubble. But he reasoned that it might not take long to get there and then to move on to a "bust" phase.
"I think we are in a pre-bubble stage that could go into a bubble stage ... The probability of a recession prior to the next presidential election would be relatively high, maybe 70 percent, Daliosaid during an appearance at the Harvard Kennedy School's Institute of Politics.
Dalio, whose fund invests some $160 billion, stepped down from the hedge fund's day-to-day operations nearly a year ago, but his views on markets and the economy are still very closely followed.
Read more: Bridgewater's Dalio Sees 70 pct Chance of Recession Before 2020 | Investopedia https://www.investopedia.com/partner/reuters/bridgewaters-dalio-sees-70-pct-chance-recession-2020-0/#ixzz57fRAW6Gr
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