Ray Dalio, founder of investment firm Bridgewater Associates, said Tuesday that he thinks investors shouldn’t miss out on the strength of the current market and that they should dump cash for a diversified portfolio.
“Everybody is missing out, so everybody wants to get in,” Dalio said on CNBC’s “Squawk Box” at the World Economic Forum in Davos, Switerzland.
Dalio advised having a global and well-diversified portfolio in this market and said the thing people can’t “jump into” is cash.
“Cash is trash,” Dalio said. “Get out of cash. There’s still a lot of money in cash.”
Dalio’s firm, Bridgewater, manages about $160 billion. His declaration that investors should not stay on the sidelines is one…