Hedge funder Ray Dalio spoke on a panel at the World Economic Forum in Davos focusing on the current outlook for the economy.
When asked by Tom Keene about the state of the economy, he characterized the U.S. as being in the "boring years." He likened the current state of the cycle to 2004 - 2006, years which hardly anyone remembers in the economy.
China is just the opposite, he says, putting it bluntly that the economy is in a bubble.
Dalio expects global central bankers to keep a bias toward easy money for some time.
He is also anticipating further pain for emerging markets thanks to worsening investment flows. That's something we've already seen quite a bit of, but Dalio doesn't think that's over, in part because EM was seen as a no-brainer for so long.