Bridgewater Associates founder Ray Dalio believes a rematch of the 2020 election will be problematic for markets, regardless of the outcome.

What To Know: In an interview from the World Economic Forum Tuesday on CNBC’s “Squawk Box,” Andrew Ross Sorkin asked Dalio how a 2024 presidential election win for President Joe Biden or former President Donald Trump would impact the markets.

“I think they’re both threatening for the markets,” Dalio said.

If Biden were to win the presidency again this year, many are concerned he would not be able to complete the full four-year term given his age, the billionaire investor said.

If he were unable to complete a full second term, power would shift to Vice President Kamala Harris, who is more progressive than Biden, he said.

How To Position Your Portfolio: Dalio told CNBC that the markets are “not either super attractive or super unattractive” right now, so investors should be building a “neutral” portfolio ahead of the election.

He noted that he has a neutral portfolio with diversified positions for times like these and suggested that investors should be prepared similarly.

“People always think you go closer to cash. That’s not right because cash is a trashy investment over a long period of time, but what is balance? How do you balance that portfolio? You go to neutral. You should know what your neutral portfolio is and go closer to that,” Dalio said.

The SPDR S&P 500 (NYSE:SPY) was down 0.49% at the time of publication, according to Benzinga Pro.

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Photo: World Economic Forum from Flickr.