By
Borsgade
In his latest post on Linkedin, Ray Dalio warns against being too optimistic about the economy in 2024. He believes that there are some risks that could lead to a more negative outcome than the market currently expects. Ray Dalio’s post can be read on LinkedIn here.
At the same time, his colleagues at Bridgewater have written quite a comprehensive analysis of the economy, the current market and why in many ways there is talk of going “back to the future”.
We believe we’ve entered a new era characterized by a number of drivers that haven’t been prominent in investors’ memories in many years. Interest rates have regained primacy as the most important lever of monetary policy, inflation is a feature of the economic landscape and creates trade-offs we haven’t experienced in decades, geopolitical tensions are creating new risks and leading to a reconsideration of how the economy is configured, and a healthier private sector has the balance sheet to leverage up under the right conditions, while the government is highly indebted and shifting to play a more direct role in the economy and markets than we’ve experienced in a long time.
All of these create an impression of going “back to the future”—grappling with an investment landscape that contains distinct echoes of a more distant past.
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