Rakesh Jhunjhunwala, the star of the Indian Dalal Street, is called the Indian Warren Buffet for a reason. A man who started as a Chartered accountant and invested in the market for the first time in 1985, now has a portfolio worth 5119 Crores.
What he has achieved is no minor feat. So what makes him the successful investor that he is today? Especially amongst so many investors who are a part of the Indian stock exchange. Let’s find out –
1. Invest the Capital
The idea of the share market is very simple: ‘To make money, you need money.’ To invest in anything, especially stocks, you need a considerable amount of Capital. Rakesh Jhunjhunwala started with Rs 5000 and went up the ladder via future trading and his knowledge. He was someone who came in on his own, no family money and yet, made it to the top.
2. Know it right
Talking about knowledge, today the stock market gets impacted by a variety of quantitative and qualitative factors. You need the right knowledge, databasing and the right experience to know how things function and follow. Keep yourself up to date, do the needed research and follow your instincts – well that’s what Rakesh Jhunjhunwala did!
3. Timing matters
Find the right moment to invest your stocks and then make a profit out of them. That is exactly what Rakesh Jhunjhunwala did when he made his first profit in 1986 of 0.5 million. He is a man who made 20-25 lakhs in 3 months during those days. Keep a close watch on the time and keep your research game on point, at every given moment.
4. Patience takes you through
The market is one of the most unstable beings on the planet. There are highs and there are lows. There are moments of joys and there are crashes. You have to be patient and composed during these times, stay calm and be positive. Mr. Jhunjhunwala saw his stocks fall by 30% in 2011, yet his patience was the reason why he recovered it just within a year.
5. Be a Visionary
Dream what you want to be, figure out where you want to go and walk your way through. Mr. Rakesh Jhunjhunwala started with his dream of investing in the stock market, started small but never gave up on his vision of being the best in the market. He played his cards right, kept going and kept dreaming, and look where is today!
The stock guru, Mr. Rakesh Jhunjhunwala has just one investment philosophy, ‘Buy right and hold tight!’ – So to all the passionate investors, now you know the mantra of success!
