by Introduction
Rakesh Jhunjhunwala was born in a middle-class family in Ahmedabad. Being an only child, I was obsessed with investing in equity markets at a very early age, because I was absolutely convinced that the stock markets were the only game in town. It was a dream come true for me when I bought my first stocks in my teens.
The Main Idea My main focus has always been to buy and sell in a disciplined manner in sync with the market cycles. While I have played this game successfully for many years and am known as the stock market fox, I would say that the main idea which I followed to generate wealth was to buy stocks when the prices are in a downward spiral and sell stocks when the prices are going up.
Quotes from Rakesh Jhunjhunwala
- Markets are like women – always commanding, mysterious, unpredictable and volatile.” says a person who is actually inspirational, a billionaire and has given a twist to the Indian perception of stock markets.
- 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 the 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.
This man is that the Big Bull Rakesh Jhunjhunwala, who is understood because of the Indian Warren Buffet or the King of Dalal Street! Also widely referred to as the ‘Phoenix of the stock market’, Rakesh Jhujhunwala, started from an investment of Rs 5,000 and earned riches of $3.1 billion.
The Early Life
Born to a Delhi-based family in 1953, Rakesh Jhunjhunwala has an ordinary beginning. Like most others, he took the course of a cab driver and delivered people.
However, his love for books and finance fuelled his interest in investing. Rakesh Jhunjhunwala acquired an interest in stock market when his father helped him to get a loan of Rs 5,000 from a bank.
After seeing such an unusual interest on his investments, his father suggested him to sell his crops and invest the money in stock market, the option which he was not even remotely acquainted with.
He also bought shares in ITC Ltd and now claims to have Rs 825 crore in the company. Talking about the unexpected gains, he said, “These were considered to be strange investments in the beginning but soon became household names.
The Rakesh Jhunjhunwala Involvement in the stock market
Rakesh Jhunjhunwala started investing in the stock market in 1980. Before that he was a taxi driver for 29 years in Mumbai.
While looking for a new job, he saw a newspaper ad for a director’s post in Mahindra and Mahindra. With only Rs 5,000 (Rs 100,000 as of the year 2000) to invest, he applied.
After 2 months, he got the job and during his first meeting with the management, he asked about the name of the firm, in which he heard that it is Mahindra. He realized that the company offered great opportunities and made the first investment in 1983.
The Rise to Fame
Rakesh Jhunjhunwala is born on January 2, 1970. However, his family soon moved to the United Kingdom in his childhood. He was enrolled in Form One to study.
But it was in August, 1988 that he arrived at Mumbai. When he first arrived at Mumbai, he never thought that he would ever make it big in the stock market.
Humble beginnings, humble mind and phenomenal success is what Rakesh Jhunjhunwala, one of the richest and most famous stock market wizards of India has.
The Nectar of the Venture Capital There were a lot of predictions made that the internet revolution would make the stock markets a casualty.
In fact, a lot of Indians were extremely sceptical of stock market as there were not a lot of historical precedents to show.
The Big Bull Rakesh Jhunjhunwala Today
The life of Rakesh Jhunjhunwala is undoubtedly worth celebrating, and his story is truly inspiring. According to Rakesh Jhunjhunwala’s investment website:
“I’ve been lucky enough to be in the right place at the right time, I’ve also built some fantastic friendships and networks along the way.” “People always ask me what has been the key to my success.
The answer is simple – I’m a self made man with no education beyond primary school. It hasn’t always been easy, but it’s been worth it,” said Rakesh Jhunjhunwala.
Here is a detailed and inspirational account of the life of Rakesh Jhunjhunwala Portfolio. Highlights of Rakesh Jhunjhunwala’s Life Rakesh Jhunjhunwala was born on October 18, 1961, in a middle-class business family in Delhi.
His father and grandfather were pioneers in the cloth business.
Conclusion
In an interview with CNBC, Rakesh Jhunjhunwala said that he made almost his entire fortune from 14 stocks and none of them were down.
He also adds that he bought them when they were fairly priced. His firm, Rakesh Jhunjhunwala Bullion & Jewellers Ltd., was set up in 1964 and went public in 1969.
Rakesh Jhunjhunwala loves India and feels that the country is going to be the world’s leading nation in the future. He loves nature and animals too.
As per a Hindustan Times report, the man is a vegetarian and believes that the higher the population, the better are the prospects of the country.
He says he follows the path of his guru and learns the yoga and spirituality. His sons are also investing in the stock market.
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