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EghtesadOnline: Billionaire hedge fund manager Ray Dalio said he’s “tactically reducing our risk” because he’s “concerned about growing internal and external conflict leading to impaired government efficiency,” according to a LinkedIn post Monday.

Dalio, whose views on President Donald Trump’s administration have soured in recent months, said “politics will probably play a greater role in affecting markets than we have experienced any time before in our lifetimes but in a manner that is broadly similar to 1937.” He added: “I continue to closely watch how conflict is handled while tactically reducing our risk to it not being handled well.”

According to Bloomberg, Dalio has said that populism worldwide is at its highest level since the 1930s. Earlier this month, he recommended investors consider placing 5 percent to 10 percent of their assets in gold as a hedge against current political and economic risks.

“I’m watching how conflict is being handled as a guide, and I’m not encouraged,” he said Monday. “Conflicts have now intensified to the point that fighting to the death is probably more likely than reconciliation.”


US divided Ray Dalio US government efficiency