Rakesh Jhunjhunwala, the Indian stock market mogul, popularly known as the “King of Dalal Street”, passed away on August 14. He was one of the most successful stock market investors, having built an empire of $5.8 billion with an initial capital of $5,000. INR or $62 (As per today’s exchange rate.)
He was battling several health-related ailments like diabetes and kidney related issues was treated for the same, he suffered a cardiac arrest on Sunday, CNBC TV18 reported.
A week before he died, he embarked on his dream project, where he wanted to crack the market for highly competitive low-cost domestic airlines. He launched Akasa Air which made its maiden flight on 7 August. Rakesh graced the occasion with his presence, exactly a week later he is no more with us.
Jhunjhunwala has several profitable companies in his portfolio like Aptech Limited and Hungama Digital Media Entertainment, Billcare Limited. He has many companies. He had stakes in Titan, a famous watchmaker in India.
He had a midas touch with no matter what stock he picked and whatever stocks he invested his money in, mostly turned into a multibagger. His wife Rekha Jhunjhunwala is also a prolific investor, currently she holds 19 shares worth Rs 9,800 crore from various sectors.
Rakesh Jhunjhunwala said that despite his success in the stock market, he lived with his father in his ancestral house. He has never left the mindset and values of middle class life. In fact, the social ideal is that the son will live in the father’s house, not the father in the son’s house. One of the most successful investors in the world lived with his father during his lifetime.
In an interview to Rediff, Rakesh Jhunjhunwala said that when he was asked how money has changed his life? He said “Money has allowed me to travel in a Mercedes instead of a Maruti car, I live in a 5,000 sq ft flat instead of a 1,000 sq ft flat. Instead of smoking Foursquare cigarettes, I now smoke India Kings “I drink Blue Label whiskey instead of Diplomat. Other than that, money doesn’t matter in my life.”
Top 20 Market Mantra Quotes by The King Of Dalal Street, Rakesh Jhunjhunwala
- I don’t know the secret sauce of success in the stock market, but if I had faith in the stock market experts, I would have definitely failed. Predicting the market is next to impossible.
- Bull Markets are long term investments like a test matches and not a quickie 20-20 game.
- The biggest thing limiting India’s development is democracy, but it is needed. We cannot dismiss it.
- When people talk to you in such gloomy marketing terms, it is time to be very cautious because the worst mistakes are made at the best of times.
- As long as there is trust in the government and banking institutions and the financial system, the world is not going to collapse.
- Not being dogmatic has helped me become a better stock-picker.
- I am always short of capital, if I see opportunity I will get money.
- The stock market is above individuals. The market is rational. A man can never outsmart the market.
- if the markets were to exactly reacts in accordance with immediate rise and fall in GDP, then the economist would have been the richest people in the world.
- Either don’t come to the market or don’t regret your actions.
- Make the investment when the stock is not popular.
- be like a chameleon in the market. always changing colors and going with the trend, you are lost if you try to go against it without solid footing.
- Invest in small caps, which will be the large caps of tomorrow. The biggest challenge with investing is that you must identify whether the organization has the ability to scale.
- Rakesh Jhunjhunwala on Bitcoin – Never invest in Bitcoin even if it as low as $5, only the sovereign government has the right to create currency in the world. Something which fluctuates 5-10% a day can it be considered as a currency.
- Never invest at unreasonable valuations. Never run for companies that are making headlines in the media. Such stocks are mostly overhyped lacking in substance.
- Thought processes and principles are dynamic and not static. Be open to change. Never play in the market with a dogmatic view to trading.
- The market makes excesses but that surplus ends. A smart investor is the one who can decide how long this excess will last and when it will end. A smart invester knows just the right time to hop in and time to leave.
- Hold on to a stock only if will give returns and not become emotionally attached to it.
- You know, trading always keeps you on your feet, it keeps you alert. This is one of the reasons I love doing trade
- Never be deceived by divergences, recognise and respect them, but remember that the market corrects its divergence, however it takes time.
