Trump’s “America First” policy, his executive order on immigration and bent toward U.S. trade protectionism are reminiscent of the policies of populist governments in the 1930s, the Bridgewater note said.
“Nationalism, protectionism and militarism increase global tensions and the risks of conflict. For these reasons, while we remain open-minded, we are increasingly concerned about the emerging policies of the Trump administration,” they said.
Bridgewater Associates, based in Westport, Connecticut, oversees $160 billion in assets. It returned 2.4 percent in its Pure Alpha II fund last year, overcoming losses in the first half.
This article was provided by Bloomberg News.