(Bloomberg) -- Ray Dalio, the founder of Bridgewater Associates, has changed his mind, saying he no longer thinks “cash is trash” and that the short-term interest rate is “now about right.”

Due to the levels of existing interest rates and the Fed’s shrinking of the balance sheet, cash “is now about neutral” and “neither a very good or very bad deal.”

Bridgewater Keeps Bets Against Europe Banks, Tech as Dalio Warns

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