Rakesh Jhunjhunwala, a Midas-touch investor, is sometimes referred to be India’s Warren Buffet. He is a chartered accountant as well as a dealer. Jhunjhunwala is the nation’s 48th wealthiest man. He is the chairperson of Hungama Media and Aptech, as well as a board member of Viceroy Hotels, Concord Biotech, Provogue India, and Geojit Financial Services. When Jhunjhunwala was in university, he began experimenting in the stock market.
Jhunjhunwala began with a capital investment of Rs 5,000 in 1985. In 1986, he made his first significant profit when he purchased 5,000 shares of Tata Tea for Rs 43, and the value increased to Rs 143 in three months. He made a profit of more than three times his investment. He made between 20 and 25 lakh in three years. That capital has grown to Rs 11,000 crore by September 2018. Jhunjhunwala has made successful investments in Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma, and NCC throughout the years.
From the beginning, when he strove to increase the amount of money he could invest in the stock market, his tale is full with difficulty. He was able to borrow money and turn a profit of $1 million, which he put into Tata Power. He understood that the stock market’s only way for him to make a lot of money is through trading. He began investing in stocks. He was getting richer with every move he made.Here are ten inspirational words from India’s Warren Buffet, Rakesh Jhunjhunwala:
- “You do not succeed without obsession.”
- “Markets are like women — always commanding, mysterious, unpredictable and volatile.”
- “Build a fighting spirit — take the bad with the good.”
- “Prepare for losses. Losses are part and parcel of stock market investor life.”
- “Always go against tide. Buy when others are selling and sell when others are buying.”
- “When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those.”
- ” See the world as it is, rather than what you would like it to be.”
- “Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it.”
- “Learn from mistakes. Learn to take a loss.”
- “Never invest at unreasonable valuations. Never run for companies which are in limelight.”
Mr. Jhunjhunwala is praised with spotting equities early on, believing in his investment, being calm, and having the confidence to hold the stocks for lengthy periods of time as a long-term investor. For him, the cost at which you purchase is as significant as, if or more essential than, what you purchase.He appreciates markets as a trader and believes that they are never incorrect. Capitalism’s foundation and markets are markets temples. He never finishes any of his opinions as an investor without remembering himself that he can always be wrong, and that the market is always correct.