At the Dealbook conference, Ray Dalio, Steve Schwarzman and
David Rubinstein just wrapped up a panel on investing and markets. Of particular interest was Ray Dalio, the hedge fund god who
has been killing it throughout the crisis.
And so you have to be intrigued that he's bearish.
He's not wildly so (thinks stocks will do better than bonds)
but his basic idea is that risk premiums are maxed out, and have to come down.
In other words, people have paid up max dollar for all risk assets thanks to
the Fed dropping rates to rock bottom. Now that will reverse....
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