Dalio, who was hopeful about a Trump presidency and some of his economic policies seems to have struck a less hopeful tone, according to a letter obtained by Bloomberg.
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RAY DALIO: 'We are increasingly concerned about the emerging policies of the Trump administration'
Ray Dalio, the head of Bridgewater Associates, is cooling off on his opinion of President Donald Trump.
Bridgewater Associates founder Ray Dalio speaks at the 2016 World Economic Forum in Davos, Switzerland.
In the letter, Dalio warned that there is a high level of uncertainty in the market and told clients to avoid investing too heavily in a particular asset, according to the Bloomberg report.
It's a quick turnaround for Dalio after the head of the world's largest hedge fund said in a note after the election that Trump's policies could be beneficial to business and the US.
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Since then, it does appear that some of the trade policies coming from the Trump White House — from a 20% border tax suggestion, strained relations with Mexico's president over NAFTA and a border wall, and attacks on China and Germany over their currencies — seems to have cooled Dalio on Trump.
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