Ray Dalio, the founder, co-chairman, and co-CIO of Bridgewater Associates says we have low volatility in growth, in interest rates, and inflation. In such an environment, the worst asset to own is cash.

Dalio discusses interest rates with Bloomberg’s Tom Keene and David Gura on Bloomberg TV. In the interview, Dalio says the only time one should hold cash is in terrible economic conditions.

There you have it cash is trash. Nothing can possibly go wrong buying stocks or even Bitcoin at these PEs and prices.