Rakesh Jhunjhunwala is the ace investor or as people like to call him the biggest bull of the Indian stock markets. The man who is referred to as the Warren Buffet of the Indian stock market is not just an investor, but a trend, an emotion that people follows. But what makes Rakesh Jhunjhunwala so special and different from the rest of the investors in the market. Let’s see some of his habits and traits that makes all the difference:-
- No Social Media
One might think having no social media handles in today’s time is a hude drawback for any individual. Well not for Mr. Jhunjhunwala. Clearly backed by his multi million dollar empire, the only statement that his absence from all social media platforms passes is that ‘stay away from distractions if you wish to achieve something great in life’
- Importance of Education
Mr. Jhunjhunwala is a certified chartered accountant in India. In today’s time, every penny he has ever made is surely a return his CA qualification is yielding. He himself has multiple time mentioned how his education helped him study the fundamentals of different stocks to invest, such as Titan (one of his greatest bets ever)
- Patience
With the lucrative returns that trading gives in the market, every investor would want to turn into a trader for some quick money, but not Mr Jhunjhunwala. The big bull has always mentioned that it is necessary to invest in the brand and not the stock and give it time to grow, eventually giving you multi-fold returns. He says patience is the key.
- Discreet lifestyle
If you ever owned a few million ever, your first thought would be to buy a big house, big car and show it off, but not for Mr Jhunjhunwala. He believes in a discreet lifestyle. Whether it is big high volume trades or his day to day activities, you would hardly get to know then as they happen.
- Charity
The big bull not believes in just accumulating but also giving back to the society that made him the big bull that he is today. He ensures that every year a good chunk of earnings is given to different charities.
But who exactly is the big bull Rakesh Jhunjhunwala ?
As per Forbes’ Rich List, Jhunjhunwala is the 48th most richest man in India. He heads Hungama Media and Aptech and sits on the directorate of the following firms- Viceroy Hotels, Concord Biotech, Provogue India and Geojit Financial Services.
His background and how he became who he is today
Jhunjhunwala began fiddling with the securities markets and stocks when he was still in college and was a student. He got himself at the Institute of Chartered Accountant of India for his CA qualification, and just after he got his degree, he chose to dive head-first into the Dalal street. In 1985, Jhunjhunwala contributed Rs 5,000 as capital. By September 2018, that capital had swelled to Rs 11,000 crore.
Jhunjhunwala’s created revenue in the financial exchange in the wake of tuning in to his dad talk about it with his companions. Citing his dad, Jhunjhunwala said his dad advised him to go through newspapers routinely as it was the news that caused markets to change. While his dad permitted him to fiddle with stocks, he wouldn’t give him monetary support/funds and disallowed him to approach his friends/colleagues (Dad’s) for cash.
Yet, Jhunjhunwala was daring and risk-taking personality from the very beginning. He acquired cash from his sibling’s customers and vowed to restore the capital with more significant yields than what was offered by the bank FDs at that time.
He got his first major break in 1986 when he purchased 5,000 stocks of Tata Tea at Rs 43 and the stock rose to Rs 143 within a quarter of a year. He procured more than three-fold benefit/profit. In three years he procured 20-25 lakh.
Throughout the long term, Jhunjhunwala effectively put his capital/earnings into Titan, CRISIL, Sesa Goa, Praj Industries, Aurobindo Pharma and NCC.
After the 2008 worldwide downturn, his stocks fell almost by 30% however he, in the end, recuperated from the misfortune by 2012.
He continued this journey for years to come. With few hardships in his way financially, he overcame all as he used to do and every time came back even stronger and richer than he was a day before.
.
For more articles, click here
.
.
.
.
.
.
Disclaimer: Views expressed on MoneySymphony.com are just an expression of thoughts. To no extend we are or should be held liable for any losses or conflicts. MoneySymphony.com suggest users take advise from certified experts before taking any actions or investment decisions. User actions may carry risk. All decisions remain the sole responsibility of the individual only.