Rakesh Jhunjhunwala is an Indian business magnate, a stock trader and an investor. He is sometimes referred to as India’s Warren Buffett and was born to a middle-class family in Mumbai on July 5, 1960.
Jhunjhunwala’s journey of becoming a stock market expert is nothing short of exciting. He began trading in the stock market as a student in 1985 and invested Rs 5,000 as capital. Jhunjhunwala has proved to be a source of inspiration for stock market investors as well. According to Forbes Magazine, Rakesh Jhunjhunwala is the 48th richest person in India with a net worth of $4.6 billion (Rs 34,387 crore) as of 2021.
According to Jhunjhunwala, he developed an interest in the stock market due to his father, an Income Tax Officer. Inspired by his father, he enrolled himself at the Institute of Chartered Accountants of India. He has been a risk-taker from the start of his career in stocks. Rakesh Jhunjhunwala earned over three times a profit on his first big investment in 1986 when he bought Tata Tea shares. He bought 5,000 shares of Tata Tea at just Rs 43, and later that stock rose to Rs 143 within three months. In the next three years, Jhunjhunwala earned between Rs 20-25 lakh. The watch and jewelry maker Titan, part of Tata’s conglomerate, is his most valuable listed holding.
RARE Enterprises
Jhunjhunwala runs a privately-owned stock trading firm called RARE Enterprises. The name is derived from the first two initials of his name and his wife’s, Rekha Jhunjhunwala’s, name. In 2003, the couple established their own stock trading firm named RARE Enterprises. During his long career in the stock market, Rakesh Jhunjhunwala invested in a number of multi-bagger stocks including Titan, CRISIL, Aurobindo Pharma, Praj Industries, NCC, Aptech Limited, Ion Exchange, MCX, Fortis Healthcare, Lupin, VIP Industries, Geojit Financial Services, Rallis India, Jubilant Life Sciences etc.
Rakesh’s Tips For Intraday Traders
Long-term Investments
Jhunjhunwala, a strong believer in long-term investments, once said that it was important to let investments mature for a long time. Picking good funds or stocks will not be enough if you don’t hold them long enough.
Keep Your Emotions Out Of Your Investments
According to him, emotional investments are a sure-shot way to lose money in the stock market, such as panic-buying during a recession and purchasing too much when the market is doing well. In his view, selling during a recession will only lead to a loss and letting greed drive you to buy more during good markets can cause you to buy in excess, which may also cause loss since the stocks may be expensive.
Conduct Research
Before investing in Mutual Funds or stocks, Jhunjhunwala says proper market research is a must. You should never put your hard-earned money at risk sans research. Stock markets cannot be treated as a place to m
