China’s biggest Wall Street bull just liquidated his Alibaba stake amid fire sale of five Chinese stocks [Fortune]
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share (BABA)
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Source: Fortune
Ray Dalio, founder of Bridgewater Associates, has been one of the biggest supporters of China on Wall Street, but he just sold his entire holdings in five Chinese stocks.Takaaki Iwabu—Bloomberg/Getty ImagesBridgewater Associates founder Ray Dalio, perhaps China’s biggest bull on Wall Street, unloaded his firm’s entire stake in e-commerce giant Alibaba amid a fire sale of its holdings in U.S.-listed Chinese stocks.The move is notable given Dalio has been an increasingly outspoken champion of Beijing and its one-party leadership ever since he first visited the country in 1984, even sending his son Matt to live in the country for a year a decade later.Last November, Dalio launched what is believed to be thesingle biggest fundraising in China at the timerival offering from BlackRockSoon afterward he found himself in hot water after defending the regime’s attempts tosilence tennis player Peng Shuaiforcing him to issue a mea culpa on LinkedInHis continued courting of the authoritarian count
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