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Ray Dalio's Bridgewater

The world's largest hedge fund - Ray Dalio's Bridgewater - is reportedly bearish on almost all financial asset classes, this according to BI and others who have seen Bridgewater's latest note to clients. The relevant portion - "We are bearish on financial assets as the U.S. economy progresses toward the late cycle, liquidity has been removed, and the markets are pricing in a continuation of recent conditions despite the changing backdrop..."