Billionaire investor Ray Dalio recently admitted to learning invaluable lessons after a bad investment left him so short of funds that he had to borrow $4,000 from his father.
Although Dalio suffered that big loss over 40 years ago, he said he still relies on that experience when he screens new investments. During a conversation with Carlyle Group (NYSE:CG) co-founder Dave Rubenstein on "The 92nd Street Y, New York" podcast, Dalio said the lessons he learned from that mistake helped him turn Bridgewater Associates into one of the world's largest hedge funds.
