Two of the world’s most well-known and successful strategists have big bets on U.S. Treasury bonds in 2013 – in opposite directions.

Ray Dalio, billionaire founder of the hedge fund Bridgewater Associates, predicted that the biggest money in 2013 will be made by shorting U.S. Treasuries. Former Merrill Lynch chief quantitative strategist Richard Bernstein listed a long position in U.S. long-term Treasuries – the most volatile segment of the bond market – as one of his top investment ideas for 2013. What gives?