Leadership

10 lessons from Rakesh jhunjhunwala.

Rakesh Jhunjhunwala

Multi-billionaire Rakesh jhunjhunwala was an Indian business tycoon, stock trader and investor. He began investing in 1985 with Rs 5000 borrowed from his father and he had an estimated net worth of $5.8 billion at time of his death. The Indian billionaire investor known as ‘Warren buffet of India’ built a huge net worth by following his genius principles. We share his top 7 success mantra for you so that you learn from these and apply them in your life.

1.Never be afraid to make mistakes:

Rakesh Jhunjhunwala used to  say never be afraid to make mistakes. If you are afraid to make a decision how can you make a decision in life? You have to make decisions in life to be successful. You will be wrong sometimes when making a decision. So Rakesh jhunjhunwala says “learn from those mistakes and never repeat them again”. This learning takes you ahead in the market. According to him the best way to learn the stock market is from experience and these experiences come from your mistakes and never blame others for your decisions. 

2. Analyse the company Deeply:

Rakesh Jhunjhunwala says the most interesting aspect of investing is you have to use  mental power and your intelligence to analyse a company. You have to use all your senses to analyse a company, the management team and the future aspects of the company. After thoroughly and rigorous research he comes to a decision to invest in a certain company.

3.Patience is key to success:

Jhunjhunwala didn’t become a multi-billionaire overnight. It took years of research,persistence and having his skin in the game to reach where he was. Jhunjhunwala’s portfolios corrected as much as 20-30% multiple times but he always used his correction as an opportunity to buy in the market.

4. Buy when others are selling and sell when others are buying:

Jhunjhunwala strongly believes in going against flow.He recommended us the wisest rule in investment. The wisest rule in investment is when others are selling, buy and when others are buying, sell. Usually we do the opposite when everyone else is buying. We assume they know something we don’t .So we buy. Then people started selling, panic set in and we sold too.

5. Never invest at unreasonable valuation:

He was very careful at the time of investing. He researches the company, businesses and future aspects very thoroughly. And invest for only at a reasonable price. Jhunjhunwala used to say never invest at unreasonable valuation, never invest in a company that is in Limelight.

6. Market is Supreme:

He used to say there is no king in the market. The only king is the Market. So he suggested one should never try to predict the market. There is one golden rule about the stock market that there are no rules. To succeed you need to have a temperament to adjust to the stock market.

7. Manage your risk:

Rakesh Jhunjhunwala advised to take only that amount of risk which one can afford. According to him, risk is the essence of life and if you don’t risk then you are nothing. So you have to take risks and you should when you see a big opportunity in a company. When things are against you, you should be ready to bear that loss without damage emotionally and financially.

8. Have a Mentor:

Rakesh jhunjhunwala considered Radhakishan Damani as his Mentor. He had great respect for him and followed his lesson heartilly. He learned trading from him at an early stage of his career. His influence and teaching shaped his life beyond the market. So you should try to follow and take guidance from someone who has wisdom in your field.

9. Passion and Skill:

He always advocated his passion and enthusiasm towards the stock market. He always reminded us that creating money from the stock market is not easy. One needs to acquire good skills to make money from the market. You acquired skill only with rigorous and continuous effort and to give that effort you need passion for your job. So we must have passion in our field.

10. Tips are injurious to your financial health:

In the age of social media we follow various resources to make money in the short term from the stock market. He advised one should not follow these tips. He said, “Tips are injurious for our financial health”. So you should never trade on such kinds of tips and do research your own due-diligence before investing in a share.

Hope our efforts help you to find some insight into the stock market. You must apply all these principles in your life. Be happy.

If this article helps you then do must share and comment. 

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