Billionaire Ray Dalio Calls For "Minor Correction": HODL Equities?

In a LinkedIn article, Ray Dalio at Bridgewater Associates says We’ve Just Had a Taste of What the Tightening Will Be Like.

The headline sounds bearish but the message sure isn't as the key paragraph explains.

Still, these big declines are just minor corrections in the scope of things (see charts of stocks and bonds below), there is a lot of cash on the side to buy on the break, and what comes next will be most important.

Note the irony: "Big declines are minor corrections." We have not have big declines.

Note the complete silliness: "There is a lot of cash on the side to buy on the break."

Unless Dalio is purposely spouting nonsense to get his investors to stay in the markets, the world's largest hedge fund founder has no idea how markets work.

It is mathematically impossible for cash to come into the markets for the simple reason, as discussed ad nauseam, that for every buyer there is a seller. Sideline cash does not change when someone buys stocks or bonds.

Do hedge fund managers really believe this sideline cash nonsense or are they purposely feeding their clients BS?

Either way, Dalio's message appears to be "HODL equities".

Note to listeners: Despite Soaring Earnings Estimates, This Market is Extremely Expensive.