Ray Dalio proclaimed "cash is trash" and warned investors against ditching stocks for dollars in a CNBC interview on Tuesday. The Bridgewater Associates boss argued a weaker dollar and growing money supply would be eroded by the value of hard currency over the next few years. Dalio's advice contrasts with the stance of Warren Buffett, whose Berkshire Hathaway conglomerate was sitting on a record $128 billion in cash at last count. "I will never risk getting caught short of cash," the famed investor told shareholders last year. Visit Business Insider's homepage for more stories.