Hedge-fund billionaire Ray Dalio said investors have overreacted to the Wuhan coronavirus outbreak, and markets will recover soon.
The fast-spreading epidemic “probably had a bit of an exaggerated effect on the pricing of assets because of the temporary nature of that,” Dalio said at a conference in Abu Dhabi on Tuesday, according to Bloomberg. “I would expect more of a rebound.”
Dalio — the boss of Bridgewater Associates, the world’s biggest hedge fund — doesn’t expect the flu-like illness to live long in the memory.
“It most likely will be something that in another year or two will be well beyond what everyone will be talking about,” he told the audience, Bloomberg said.