Less than a week after Donald Trump won the presidency, the head of the world’s biggest hedge fund, Ray Dalio, unexpectedly declared that he was a firm believer in Trump’s policies in a lengthy LinkedIn article in which he praised the coming age of Trump: “there is a good chance that we are at one of those major reversals that last a decade (like the 1970-71 shift from the 1960s period of non-inflationary growth to the 1970s decade of stagflation, or the 1980s shift to disinflationary strong growth)…. there’s a good chance that the economy/market will shift from what we have gotten used to and what we will experience over the next many years will be very different from that.”
It now appears that Trump’s honeymoon with some of the biggest asset managers is now officially over, because in his latest Daily Observations note, scooped by BBG, Dalio and co-CIO Bob Prince write that he’s becoming “more concerned that the damaging effects of President Donald Trump’s populist policies may overwhelm the benefits of his pro-business agenda.”
This post was published at Zero Hedge on Jan 31, 2017.
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