Veteran stock market investor and Indian billionaire Rakesh Jhunjhunwala passed away on Sunday after suffering cardiac arrest. Known as the ‘Big Bull of Stock Market’ and ‘India’s Warren Buffet,’ he pioneered the art of investing in Dalal Street. Jhunjhunwala, who was an alumnus of Sydenham College, was also enrolled at the Institute of Chartered Accountants of India.
Jhunjhunwala first began investing in the stock market in 1985. The initial capital he invested in the stock market was only Rs 5,000, which grew multifold to Rs 46,000 crore by 2018. As of June 2022, Jhunjhunwala has assets worth $5.5 billion. He has been ranked as the 36th richest man in the country.
The stock market maverick was known for his decisiveness to invest in stocks with high valuations. His firm, RARE Enterprises, focuses on stock market trading. Jhunjhunwala was known for guiding his friends and colleagues, on the right investment in the stock market.
Here are the top 10 mantras shared by Jhunjhunwala, that will help you invest in the stock market:
- “Buy when others sell and sell when others buy – the stock market mantra."
- Hastily taken decisions always result in heavy losses. Take your own time before putting money in any stock.
- "Anticipate trend and benefit from it. Traders should go against human nature."
- “Invest in companies which have strong management and competitive management."
- “You cannot make profits in the stock market unless you have the ability to bear losses."
- "Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible.
- “Trading always keeps you on your feet, it keeps you alert. That's one of the reasons why I like to trade."
- “Emotional investment is a sure way to make a loss in stock markets."
- “Never invest at unreasonable valuations. Never run for companies which are in limelight."
- “When opportunities come, they can come through technology, marketing, brands, value protections, capital, etc. You need to be able to spot those."