Billionaire Ray Dalio: We are in the 7th inning of the current economic cycle

Ray Dalio, the billionaire founder of the world's biggest hedge fund, told CNBC on Tuesday the current economic cycle is in the 7th inning, predicting it has about 2 years left to run. The co-chairman and co-chief investment officer of Bridgewater Associates, on Monday put out a new book, looking back at the 2008 financial crisis and how to avoid future crises.