'Capital markets are not free': Billionaire investor Ray Dalio says the Fed is boosting asset prices, valuation metrics don't apply, and the US dollar is at risk
Business Insider -

Billionaire hedge-fund manager Ray Dalio said the Federal Reserve is boosting markets, conventional valuation metrics don't apply anymore, and the US dollar could lose its appeal in a Bloomberg interview on Thursday.

"The capital markets are not free markets allocating resources in the traditional ways," the Bridgewater Associates co-chief said.

Dalio also predicted that central banks' balance sheets will "explode," but argued the Fed needed to take sweeping measures because "the whole economy...

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