New Delhi, Dec. 2 -- Billionaire investor and Bridgewater Associates founder Ray Dalio reflected on one of the most formative - and humbling - periods of his early career, which not only left him broke but also taught him a valuable lesson.

Although Bridgewater would eventually grow into the world's largest hedge fund, its early years in the 1970s were far from smooth, as Dalio highlighted in a recent interview with Bloomberg.

Dalio, known for his investing prowess, admitted that the firm came close to collapsing, a near-failure, which he now describes as "one of the best experiences of my life."

The veteran market investor said the turning point was in 1979 as a result of a wrong assessment of the economy, costing him and his clients ...