Here’s what Rakesh Jhunjhunwala had to say about how to build long-term wealth | Job Binary

Ace stock market investor Rakesh Jhunjhunwala, known as India’s Warren Buffett, died on August 14. A self-made trader, investor and entrepreneur, he was also known as “The Big Bull” of Dalal Street.

As the son of a qualified CA and an Income Tax officer, Jhunjhunwala entered the stock market in 1985 when the Sensex stood at 150 points. 5000. Commenced journey 5,000 and today he left this world, leaving his family a fortune of $5.8 billion (according to Forbes).

Even after his death, he left behind a legacy of investment principles that encouraged stock market investors to grow wealth from stock markets.

In an interview at the Times Network India Economic Conclave 2021, Rakesh Jhunjhunwala was asked his advice to young entrepreneurs on creating consistent wealth through massive wealth creation.

For this he listed the main principles. “First, you have to be in a growing industry with great opportunities, and second is corporate governance,” he said.

“Because corporate management is a very wide world. It includes the attitude towards the society, customers, employees, stakeholders, sharing a fair leap, not taking undue risks,” he added.

“The third principle is technology and the ability to change; fourthly, there should be economy, giving an example, I will show IndiGo and Dmart as extreme companies that use economy.

Also read: Rakesh Jhunjhunwala’s 10 investment principles made him a big bull on Dalal Street.

He went on to add, “Be patient companies, if you know the race doesn’t end tomorrow, I always think the turtle will win in the end. So growth is a process, don’t try to push it away. So these are the basic principles for long-term returns.

Also read: Rakesh Jhunjhunwala started his journey from the fair capital 5000; Everything you need to know about India’s Warren Buffett

“I think the changes that are recognized and many big companies can grow big. “I think the businessman does not want to give up power,” he added.

Finally, he concluded, “The companies you represent are the only companies that can scale.”

Rakesh Jhunjhunwala has dominated the Indian stock market for decades, making intelligent investment choices to build an empire of value stocks. 40,000 mln. He was the 36th richest person in India.

The 62-year-old’s entry into the capital-intensive sector surprised many earlier this year, with many pointing to the troubled history of India’s billionaire-backed airlines as well as the grim global economic outlook. Jhunjhunwala has invested $35 million for a roughly 40 percent stake in the new airline. “Many people ask why I started an airline. Instead of answering them, I tell them that I am ready to fail,” said the billionaire.

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