The world's biggest hedge fund isn't sure yet what to make of Donald Trump's election to the US presidency. That's the big takeaway from an investor note that Ray Dalio sent on Thursday, two days after Election Day. "There is much more that we don't know than we do know," Dalio wrote in a client letter viewed by Business Insider. "Our guess is that the markets will increasingly focus on what he is likely to do and less on how sensible he sounds."