Bridgewater Associates L.P. founder Ray Dalio said last week at the World Economic Forum in Davos, Switzerland that the global investment landscape will change in 2013 as investors shift their assets away from cash holdings, according to reports.
The Greenwich billionaire who founded Westport-based Bridgewater Associates predicted that as international financial markets stabilize, investors and companies sitting on large cash hordes will begin to reallocate those funds, according to Bloomberg News.
“There’s a lot of money in a place that’s getting a very bad return and in this particular year there’s going to be, in my opinion, a shift,” said Dalio, speaking Jan. 25 at a panel hosted by Bloomberg. “The complexion of the world will change as that money goes from cash into other things. The landscape will change, particularly later in the year and beyond.”
Dalio, according to reports, went on to say, “The shift of that massive amount of cash is what will be a game-changer.”