Some of the smartest minds on Wall Street are sounding the alarm on the Trump bump

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Ray Dalio

Heidi Gutman / CNBC

Ray Dalio talks at the CNBC Institutional Investor Delivering Alpha conference.

Elliott Associates. Bridgewater. Baupost.

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They're some of the biggest names in investing. They're also warning of increasing risks in the stock market.

US stocks have had a good run since the election of Donald Trump. The promise of tax cuts, repatriation of overseas profits and deregulation has had Wall Street abuzz almost immediately after Trump's win. Financial stocks, in particular, have rallied, with the latest boost coming on the back of Trump's executive order to review the Dodd-Frank rule.

The Dow Jones Industrial Average hit the landmark number of 20,000 on January 25, and the Nasdaq Composite just hit a new record.

But the speed and scale of the rally, and the realization that Trump's policies aren't just good news for investors,
has a number of influential voices in the market sounding the alarm.

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Comments from the White House on issues ranging from currency devaluation to border taxes have put the market on edge. Worry about inflation is emerging, too, and there's also concern about the overheated valuations on stocks.

Here's a roundup of warnings from some of the biggest funds and investors: