Ander Gillenea | AFP | Getty Images
A man incarnating a ‘Toro de Fuego’ (bull of fire) chases people during the San Fermin Festival on July 8, 2017, in Pamplona, Spain.
Erdoes said the fears cause investors to “walk away, and say, ‘Oh, I should stay in cash or I should be out of the markets.'”
On Tuesday from Davos, Bridgewater Associates founder Ray Dalio predicted investors will see “a market blowoff” rally, fueled by cash from banks, corporations and investors.
“If you’re holding cash, you’re going to feel pretty stupid,” said Dalio, whose firm Bridgewater is the world’s largest hedge fund, managing about $160 billion.
Not everyone at Davos was bullish about the market.
In fact, American billionaire real estate investor Jeff Greene said Friday the titans of global finance at the forum are too optimistic about the stock market.
“There are 2,000 people [here], and I don’t think I’ve met one person who’s been negative,” he told CNBC.
