The billionaire hedge fund manager's comments struck a calmer tone than some of the analysts and investors predicting a potential stock market correction.
The fast-spreading virus, which has so far killed 1,018 people and sickened more than 43,000 across 28 countries, “probably had a bit of an exaggerated effect on the pricing of assets,” the billionaire hedge fund manager told a panel audience on Tuesday.
Some Wall Street bulls say they fear the virus could lead to a stock market correction and that it currently poses the single biggest threat the market’s rally. Ray Dalio, billionaire and founder of Bridgewater Associates LP, speaks during the Institute of International Finance annual membership meeting in Washington, D.C., U.S., on Friday, Oct. 18, 2019.ABU DHABI, United Arab Emirates — Billionaire hedge fund giant Ray Dalio thinks the roller-coaster impact of the new coronavirus on markets is likely exaggerated.
The fast-spreading virus, which has so far killed 1,018 people and sickened more than 43,000 across 28 countries, "probably had a bit of an exaggerated effect on the pricing of assets," he told attendees of the 2020 annual Milken Conference in Abu Dhabi Tuesday. "Because of the temporary nature of that, I would expect more of a rebound. It most likely will be something that in another year or two will be well beyond what everyone will be talking about."
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