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Ray Dalio recalled borrowing $4,000 after an early stock misstep
The founder of Bridgewater said his first stock win came at age 12, but a later bad call left him needing $4,000 from his dad.
Ray Dalio, the founder of Bridgewater Associates, looked back on his early experience with stock investing, describing how he bought his first shares at age 12 after a stock he picked while caddying helped him triple his money, according to Yahoo Finance.
Dalio said the first stock he bought was in Northeast Airlines, which he described as being near bankruptcy before another company bought it, sending the investment higher.
He later wrote that he assumed investing could not be that hard after the early gain, but said the cost of being wrong became a central lesson, adding that a disastrous call eventually left him borrowing $4,000 from his dad.
The article also notes that Dalio later made headlines in 1982 for predicting the United States was approaching another depression during an ongoing recession, and that he attributed the lack of a depression to a rebound in the economy and stock market after Federal Reserve policy loosened.