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Larry Fink Joins Ray Dalio in Warning Against Sitting in Cash

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Fink says global growth is "incredibly synchronized."Source: Bloomberg

The heads of the world’s biggest asset manager and largest hedge fund are anti-cash.

Larry Fink, chief executive officer of BlackRock Inc., is urging investors around the world to stop keeping money in cash as stock markets reach new highs. There’s too much savings on the sidelines of financial markets in countries from the U.S. to China despite the stock market rally, Fink said Thursday at the World Economic Forum.