2020 has been a bizarre year: not only did stocks finally crash after the longest and most artificial "bull market" in history, sending an entire generation of clueless traders who had never seen more than a 10% correction puking into their toilet paper-free bathrooms as the Fed finally ran out of ammo to artificially prop up markets, but the metaphorical demise of Dennis Gartman meant a replacement had to be found for the market's biggest counter-indicator, and how refreshingly surreal is it that the new Gartman turned out to be none other than Ray "Cash is Trash" Dalio.

You see, back in late January when stocks were melting up to new record highs every single day, Ray Dalio speaking from the Coronavirus-free billionaire boondoggle of Davos, put on his best momentum extrapolation hat on, and predicted that "cash is trash."