The superstar investor and sometime bitcoin (BTC) commentator, founder of major global investment firm Bridgewater Associates Ray Dalio has launched a stinging attack on government and other forms of dollar debt-buying in the form of bonds, labeling the practice “stupid” – and urging followers to buy “stuff” that provides a safer bet against inflation.
Dalio published a long-form post on his LinkedIn page, where he opined that “the economics of investing in bonds” as well as “most financial assets” has “become stupid,” adding,
“Respectfully, bitcoin is the obvious solution, and much more practical than ‘a well-diversified portfolio of non-debt and non-dollar assets’ in ‘Asian emerging markets.’”
Meanwhile, inflation is now considered the biggest tail risk, Jeroen Blokland, Senior Portfolio Manager at Robeco, an international asset manager, said, citing Bank of America’s Global Fund Manager survey.
“Global fund managers think vaccination will finally lead us to reopening and that the extremely loose monetary policy in times of economic recovery is not without risk. I think it’s too early to be worried about inflation, though,” Blokland said in a blog post.
According to him, in many areas such as the Eurozone and Japan, inflation remains far from central bank targets.
“Overshooting risks are low. In the US, inflation risks are higher, but not enough yet to derail equity markets,” he added.
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