April 22, 2020
Billionaire hedge fund manager Ray Dalio has described the coronavirus outbreak as an exciting turning point in history — one that could pave the way for greater societal progress.
In a live LinkedIn interview Tuesday, the Bridgewater Associates founder highlighted the devastating human toll of the virus, which has so far infected more than 2.5 million globally, and its wide-reaching economic repercussions.
However, he went on to strike an optimistic note, saying that the financial fallout should be viewed in wider historical context.
Comparing the pandemic with other periods of economic hardship, such as the Great Depression, Dalio said the current downturn — painful as it is — would be “relatively brief” and would allow for a wider global “restructuring.”
That restructuring could last three to five years, he said.
This article was posted: Wednesday, April 22, 2020 at 3:17 am