Asking about AI bubble concerns and market direction, specifically referencing Nvidia and Jensen Huang's view
CNBC Anchor
Ray Dalio
There's definitely a bubble in markets - defined by wealth creation disconnected from fundamentals, concentrated ownership, and vulnerability to cash needs
Questioning leverage supporting current market and vendor financing concerns similar to 1990s fiber bubble
CNBC Anchor
Ray Dalio
Main issue is who owns the stock - weak hands (leveraged public) vs strong hands (company owners investing own money)
Ray Dalio
Bubble indicator shows 80% of 1929/2000 levels - doesn't mean end of move but shows vulnerability
Noting historical examples where markets continued rising after bubble warnings (1928-1929 +90%)
CNBC Anchor
Ray Dalio
Bubble is unsustainable circumstances - don't sell just because bubble exists, but expect very low returns over next 10 years in this territory
Ray Dalio
We are in bubble territory but don't have the pricking of the bubble yet