Bridgewater’s Prince Sees Rebalancing of Wealth That Favors Asia

(Bloomberg) -- Bob Prince, who helps oversee the world’s biggest hedge fund at Bridgewater Associates, said the world was seeing a rebalancing of wealth that was largely favoring Asia.

“There’s a massive wealth rebalancing going on in the world,” Prince, co-chief investment officer at Bridgewater, said in a Bloomberg Television interview. “There’s a rebalancing between the western hemisphere and the eastern hemisphere in Asia, and there is a rebalancing between asset holders and debtors.”

Prince said that Bridgewater currently favors Asian assets “a lot” across currencies, bonds and stocks. He added that “the rebalancing in the world is going in that direction, but the pricing is actually in the other direction.”

Earlier this week, Bridgewater founder Ray Dalio called for a bipartisan solution to reviving the post-pandemic economy. The Westport, Connecticut-based investment firm sunk to the bottom of a hedge fund ranking for 2020, losing $12.1 billion for clients.

©2021 Bloomberg L.P.