What investors can take from Ray Dalio’s warning on war
The hedge fund veteran turned amateur historian sees military conflict on the horizon, but his broader message for the market is one of instability and volatility.
It’s always hard to know exactly how to interpret warnings about military conflict from market commentators, which have become increasingly mainstream since Vladimir Putin invaded Ukraine earlier this year.
While some investors are able to model and price the possibility of war – Coolabah Capital founder and The Australian Financial Review columnist Christopher Joye, for example, recently put the chances of a war between China and Taiwan at 74 per cent – I suspect most investors struggle to get to this level of analysis.
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
