In India, one has to have faith in equity. What are the alternatives – real estate, debt? If debt can give you 6 percent, equity can give you 15 percent.
When people talk to you in such glowing terms, that is the time to be very, very alert because the worst of the mistakes are made in the best of the times.
You can’t make money on borrowed knowledge. If following Rakesh Jhunjhunwala was all it took to make money, a lot more people would be rich. It requires patience and you learn from mistakes.
My father was always not concerned about the wealth I have, but every year he would ask me, how much have you given in charity? And how much taxes have you paid?
You cannot artificially curb gold imports beyond a point. But I am hopeful it will happen because the rupee depreciation should by itself lead to a large growth in exports and some compression of imports.
Draw a balance between the present and the future and one advice I give to every young Indian – the most difficult thing in India, urban India, is housing. So first thing that you do is try and buy house as that gives a great sense of security.
I am interested in government spend quality, as it accounts for the biggest chunk of the social spending pie. Hundreds of foundations put together cannot equal what the government can spend.
