As the founder of the world’s largest hedge fund firm Bridgewater, Ray Dalio is known as one of the best investors.
But during the early days of Bridgewater, he did make some mistakes. The biggest one was in the 1980s.
At the time, Mexico defaulted in August of 1982. Dalio believed that the U.S. would go into the same crisis, and everything would fall apart. That was the exact bottom of the stock market.
This wrong decision almost cost his company. He had to let all employees go and had to borrow money from his father.
But this failure did not kill him and Bridgewater. Instead, it helped Dalio change his mindset and learn valuable lessons. These lessons later became the basis of Bridgewater’s success.
In this video, Dailo talks about this most painful experience in his life and what he has learned from it.
Source: Finance Jane.
