The late Rakesh Jhunjhunwala became a well-known investor in the Indian stock market and is frequently referred to as India's Warren Buffett. Sadly, the legendary investor passed away on August 14, 2022, leaving behind a legacy that will serve as a guide for future investors.
Jhunjhunwala's path from starting from nothing to becoming 'Big Bull' of Dalal Street is motivational. Learn how an Indian billionaire investor increased his holdings from Rs 5000 to Rs 37,500 crore in listed stocks, CNBC TV18 reported.
Success tale of late Rakesh Jhunjhunwala
Rakesh, who was born in 1960 into a middle-class family, has always been fascinated by the stock market and investing. Rakesh became interested in the stock market after witnessing his father, an income tax officer, invest. Rakesh took the profession of chartered accountant following completing his education.
Stock market enthusiast, Jhunjhunwala, began investing in 1985 with a small quantity of money. He picked up the skills necessary to succeed rapidly. Surprisingly, Rakesh Jhunjhunwala's estate was estimated to be worth approximately Rs 40,000 crore at the time of his death.
But when he, chartered accountant, decided to make his first investment, his father objected to give him the money. And advised not to borrow money to make market investments from friends or family. Jhunjhunwala didn't let this hinder him, and before entering the market, he made some money on his own.
READ | Meet IIT-IIM alumnus who leads Rs 80,077 crore company
Through the Tata Tea firm, a member of the Tata Group, he first experienced triumph. With Rs 5,000 as his initial investment, he bought shares of Tata Tea for Rs 43. Jhunjhunwala made a profit of Rs 5 lakh from an original spending of Rs 2.15 lakh in 1986 in the first three months of the stock price rise which he sold for Rs 143.
According to Forbes, before his death in 2022, his net worth was estimated to be $ 5.8 billion (about Rs. 48,000 crore right now). The fact that this masterclass investor, who has earned such great riches, set off on his adventure with only Rs 5,000 is amazing. His main source of income came from the stock market, which helped him achieve amazing success.
Here are 5 quotes by ace investor Rakesh Jhunjhunwala that will guide you:
Be different: 'Buy when others are selling and sell when others are buying.'
Be patient: 'Take your time before putting money in any stock and avoid any loses.'
Be prepared: 'Losses are a part and parcel of a stock market.'
Be passionate: 'You do not succeed without obsession.'
Be practical: 'Emotional investment is a sure way to make losses.'
