American billionaire said Ray DalioKeeping a lot of cash in cash may not be wise these days with high inflation.
The founder of the founder of “Bridgewater Associates”, the largest hedge fund in the world, stuck to his statements he made last year, that “cash is not a safe investment, and it is not a safe place because it will be taxed because of inflation,” describing criticism in media statements this week, according to the website. Yahoo Finance” as “still a waste”.
https://www.youtube.com/watch?v=hSM1p6PUGXk
He emphasized that the purchasing power of cash is being hit hard by inflation.
US consumer prices rose 8.3% in April from a year ago, down slightly from 8.5% in March, but still near 40-year highs.
The volume of assets under management of the fund is regarding 223 billion dollars, according to a report by the US Securities Commission last July. More than half of these assets, according to the same committee, or nearly 59 percent, belong to non-US clients.
In June, the famous Forbes magazine estimated Dalio’s fortune at $20 billion.
The fund owns shares in a number of international funds and companies, including 22.72 million shares of the “Vanguard FTSE Emerging Markets ETF”, which is known as “VWO”, with a market value of nearly one billion dollars until the end of last March.
The fund also acquires shares in Procter & Gamble and the Chinese e-commerce giant Alibaba Group.