Ray Dalio and his hedge fund research team at Bridgewater Associates have been vocal about their bearish outlook for stocks over the past few months. This year, Bridgewater Associates has predicted equities will see further declines, with Dalio telling investors in June that US stocks would likely fall another 15-20% from current levels by year-end. Meanwhile, its European equity team recently issued a similar warning regarding the risk of a further market decline in Europe over the coming months. According to his analysis, inflation will rise 4.5% to 6%, and the Federal Reserve will have to raise interest rates aggressively to curb inflation. In addition, growth will remain weak in the U.S. and Europe while central banks around the world continue their efforts to deleverage the financial system after the financial crisis. These factors should lead to lower valuations and increased volatility for the global stock market in the coming...