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5/24, 1:42 PM (Source: TeleTrader)
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Ray Dalio: Cash is trash, stocks set to slide

American billionaire investor and founder of Bridgewater Associates, Ray Dalio, argued on Tuesday that the stock market is set to face another sell-off, insisting that "cash is trash."

Commenting about the ongoing economic situation in the United States in an interview with CNBC at the World Economic Forum in Davos, Dalio said that this market period reminds him of the 1970s.

Wall Street has seen turbulences since the start of the year, with major indexes standing significantly lower versus record highs from January.

Baha Breaking News (BBN) / ND