Billionaire investor Ray Dalio got hooked on investing early. He bought his first stock as a kid living on Long Island when he was only 12, he tells Tony Robbins in a recent podcast.
It was the early 1960s and "the markets were hot at the time," Dalio recalls, so he used the money he had earned as a caddy to buy stock in Northeast Airlines. It was the only company he had heard of that was selling for less than $5 a share.
"The only reason I bought it is, I figured I could buy more shares, so if it goes up I would make more money," says Dalio. "That was a dumb strategy."