Why in the world would you own bonds?
One thing I've learned about professional investors is that no matter what, at the end of the day they're talking their book.<p>So whether you buy these arguments or not, Ray Dalio is simply promoting a position that Bridgewater no doubt has taken.  So when he says:<p>"I believe a well-diversified portfolio of non-debt and non-dollar assets along with a short cash position is preferable to a traditional stock/bond mix that is heavily skewed to US dollars. I also believe that assets in the mature developed reserve currency countries will underperform the Asian (including Chinese) emerging countries’ markets."<p>It's not his avuncular advice.  He has millions (billions?) of dollars committed to this bet and he wants to convince others that it's correct so it pays off.