Bridgewater

After 47 years at the helm of the hedge fund he founded, Ray Dalio is giving up day-to-day investment management. But perhaps more surprising is his newfound appreciation for cash.

Jeremy Grantham’s “wild rumpus” appears to have well and truly begun. But it might only be the beginning of a gloomy period for markets.

Cash is still trash for hedge fund legend Ray Dalio, who believes the world is entering a new paradigm characterized by internal and external conflict that will only intensify in the years ahead. Dalio, founder of Bridgewater Associates and one of those polymath billionaire investors who frequently turn their attention to issues beyond pure finance,…