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Bridgewater Co-CIO: It Will Be Worse Than Everyone Expects

• https://www.zerohedge.com, By Tyler Durden

One day after Bridgewater founder and billionaire Ray Dalio told a Davos panel that the "one thing that scares him the most"  is that during the next downturn in global growth, which will hit both markets and the economy, central banks will have virtually no ammo to spark another rebound, Dalio's top lieutenant, Greg Jensen, who is co-chief investment officer of the world's biggest hedge fund (excluding various central banks, of course) said "he sees a more negative outlook for growth than the markets and policy makers."

"While people have certainly diminished their growth expectations and you're hearing all about that at Davos, we don't think they've done it enough," he told Bloomberg TV during an interview from the World Economic Forum, effectively warning that the coming drop will be worse than (virtually) everyone expects. Echoing concerns first voiced by Morgan Stanley's Mike Wilson, Jensen said that "earnings expectations particularly in the U.S. are too high, and generally the Fed and other policy makers are still expecting stronger growth than we see."

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