Ray Dalio, billionaire and founding father of Bridgewater Associates LP, speaks in the course of the Institute of Worldwide Finance (IIF) annual me
Ray Dalio, billionaire and founding father of Bridgewater Associates LP, speaks in the course of the Institute of Worldwide Finance (IIF) annual membership assembly in Washington, D.C., U.S., on Friday, Oct. 18, 2019.
Al Drago | Bloomberg | Getty Photographs
ABU DHABI, United Arab Emirates — Billionaire hedge fund large Ray Dalio thinks the roller-coaster impression of the brand new coronavirus on markets is probably going exaggerated.
The fast-spreading virus, which has to this point killed 1,018 folks and sickened greater than 43,000 throughout 28 international locations, “in all probability had a little bit of an exaggerated impact on the pricing of belongings,” he advised attendees of the 2020 annual Milken Convention in Abu Dhabi Tuesday.
“Due to the momentary nature of that, I might anticipate extra of a rebound. It probably will probably be one thing that in one other yr or two will probably be nicely past what everybody will probably be speaking about.”
The feedback from Dalio — the founding father of Bridgewater Associates, which manages $160 billion in international investments — struck a a lot calmer tone than lots of the analysts and buyers who’ve spoken to CNBC on the subject. Some have warned the illness could evolve into something worse than the flu and that the outbreak might tip China right into a technical recession that may impression the remainder of the world.
Even some Wall Road bulls say they concern the virus could lead to a stock market correction…