Ray Dalio is a well-known figure in the financial world. The legendary investor, founder, co-chief investment officer, and co-chairman of the world's largest hedge fund Bridgewater Associates, has warned the world of a looming financial crisis.
According to the financier, tense relations between the world's two top economies, China and the United States, may cause another war. Even if it does not happen, the planet could face a financial crisis. "Catastrophes are still inevitable, as the practice of the last 500 years has shown," Ray Dalio is confident.
Some studies found that the trade war between the two nations initiated in 2018 had cost the United States at least 300 thousand jobs and a $1.7 trillion reduction in market value of US companies.
In addition, Dalio also gave some tips on how to minimize losses in the event of a global financial meltdown. According to him, it is necessary to correctly assess the current investment strategy and then diversify a portfolio by investing in both liquid and income-generating instruments. Cryptocurrencies are among the assets the head of Bridgewater Associates recommends investing in.
