Dario first expressed the view that cash is rubbish at the beginning of 20 19, and it became something he must mention in all subsequent public occasions. This week, in an interview with the media, Dario once again mentioned the idea of responding to whether cash is still garbage. He thinks that cash is no longer rubbish.

In an interview with American Consumer News and Business Channel on Thursday, the famous hedge fund manager said that in the past year, cash has become "quite attractive" compared with stocks and bonds.

However, in the last month, the global market rebounded, and the performance of stocks and bonds was significantly different from last year. Since 2023. Global stock markets rebounded, with Nasdaq up 16.57% and MSCI China index up 13.32%, far from last year.

Dario first explained why cash is more attractive than bonds. He said that although bonds may bring higher returns to investors, the expansion of public debt in the United States, Europe and Japan and the negative real rate of return make debt securities less attractive.

Compared with last May, this is a remarkable change. At that time, Dario said that cash was still "garbage", but with the arrival of the market crash in 2022, stocks were "more garbage". In June 5438 +2022 10, Dario tweeted that he had changed his view on cash and now regarded it as "neutral".

20 18, bridgewater's scale and profit made Dario "out of the circle". Then Dario expressed the view that cash is rubbish several times in public, and the lowest interest rate really boosted the valuation of stocks and bonds. Now, the Federal Reserve is raising interest rates, which will not be conducive to the performance of the stock market.

Interestingly, while Munger criticized cryptocurrency, Dario also made some criticisms of cryptocurrency in this interview. Bitcoin, like stocks, has rebounded since the beginning of the year. He said: "I think you will see that legal tender will become more attractive than before, but I don't think Bitcoin will become more attractive."

As the founder of bridgewater, Dario has retired from the day-to-day management of the fund. On Thursday, Bridgewater announced the promotion of Karen Karniol Tambour to co-chief investment officer, and joined Bob Prince and Greg Jensen as chief investment officers.