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SINGAPORE — Investors have the impression that cash is the least risky asset, but it's actually "not a safe investment," says Ray Dalio, founder of investment firm Bridgewater Associates.
This isn't the first time he has warned investors about holding cash. Earlier this year, he said "cash is trash."
"I think that there's an instinct to think that cash is the lowest risk asset, because it has less volatility, and also because we look at everything through the lens of cash – what is everything in dollars worth," he told CNBC's "Street Signs Asia" on Wednesday.