Market Extra: Founder of the world’s largest hedge funds says the ‘magnitude’ of the next downturn will be epic

Ray Dalio of Bridgewater Associates has some good news for Wall Street investors, and some bad news.

First the good news: The founder of the world’s largest hedge fund, which boasts $102 billion under management, says the global economy is “at or near its best,” with few, if any major risks, on the horizon. Against, the backdrop of ever-rising equity prices, including the Dow Jones Industrial Average DJIA, -0.11% the S&P 500 index SPX, -0.15% and the Nasdaq Composite Index COMP, +0.09% hovering around all-time highs, the short-term picture looks halcyon. Even London’s benchmark FTSE 100 UKX, +0.62%closed at a record on Friday.

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