From CNBC's Net Net:
See also:Rising interest rates in 2013 will likely push down prices in almost every financial asset in the world according to Ray Dalio, the founder and chief investment officer of the world's largest hedge fund, Bridgewater Associates.Low interest rates made necessary by global deleveraging have squeezed risk premiums out of nearly every asset class, Dalio said. As a result, most financial assets are "fully priced" and many are overvalued, according to Dalio.
"I think those risk premiums are likely to expand, and as a result I think that is generally a negative for asset classes as a whole," Dalio said.
"The biggest opportunity, and I don't think its an imminent opportunity, will be shorting the bond market," Dalio said....MORE
Credit Markets: The Next Big Short