October 23, 2017

Ray Dalio: The First Stock That I Bought

I caddied in the 1960s when I was 12, I caddied at a golf course and everybody was talking about the stock market then. The stock market had gone up for a long, long time and whenever you got a haircut or anything you would always be talking about stocks. So I took my caddying money when I earned six dollars a bag and so I would get twelve dollars a round and I took my caddying money and I put it in the stock market. 

I was curious and I remember the first stock that I bought was a company by the name of Northeast Airlines. The only reason I bought it was because it was selling for less than five dollars a share and I figured I could buy more shares so I'd make more money if it went up. That was dumb but I it was a company that was about to go bankrupt and then somebody acquired it. It tripled and I was hooked so I got hooked on the markets at that time.