Hedge funds and private-equity firms today are like the dot-coms

Quote of the Week:

Hedge funds and private-equity firms today are like the dot-coms in2000: Ask for money and you'll get it. They bid up the prices ofeverything. The amount of money flowing is almost out of control, andit's making everything overvalued. A client of mine said it's likethere are 11,000 planes in the sky and only 100 good pilots -- anaccident is bound to happen.

—Ray Dalio of Bridgewater Associates, quoted in Barron's, May 26th 2007 edition