U.S. stock market has not priced in economic slowdown yet - Bridgewater co-CIO
By Carolina Mandl
NEW YORK (Reuters) - Bridgewater's Karen Karniol-Tambour, co-chief investment officer for sustainability, said on Thursday that the U.S. stock market has not yet priced in an economic slowdown in the United States.
"Profits are extremely high and it seems very unlikely they can remain this high at unprecedented levels forever," she told the audience at the Sohn Investment Conference.
Although the S&P 500 is down 14.8% this year, Karniol-Tambour believes investors have only taken into consideration a rise in interest rates, ignoring a very significant economic slowdown and higher volatility brought by persistent inflation.
"The market is not really reflecting a significant economic slowdown," she said.
Bridgewater, founded by Ray Dalio, manages $150 billion in assets.
(Reporting by Carolina Mandl; Editing by Cynthia Osterman)
