Shocking ❗️ Bridgewater founder Ray Dalio speaks out: Current U.S. stock market bubble indicators are approaching levels seen before the crashes of 1929 and 2000. Over the next 3 to 10 years, it will be difficult for the stock market to generate profits, making it unsuitable for heavy long-term investments. In an interview, he said: By comparing multiple valuation, capital, and debt cycle indicators for the U.S. stock market, the current level of market bubble is already dangerously close to the range seen before the 1929 stock market crash and the 2000 dot-com bubble burst. His forecast for the U.S. stock market: From a mid-to-long-term perspective (3–10 years), the overall investment return rate of U.S. stocks will shrink significantly. Ordinary investors will find it hard to achieve positive returns, and the equity market as a whole will enter a low-return, high-volatility cycle. Who is Ray Dalio? He is renowned for his analysis of debt cycles and asset bubble cycles, and has historically issued early warnings about major financial bubbles. In this interview, he cautioned about three converging risks: overstretched U.S. stock valuations, a liquidity turning point, and global debt pressures.