The typical conditions for the birth of a bull market are here: you have a changed country, you have a deep fall in growth and everybody is perplexed by the rise of stocks.
RAKESH JHUNJHUNWALAWhat leads to a growth – skills, demographics, natural resources, democracy, entrepreneurship – India has in abundant measure.
More Rakesh Jhunjhunwala Quotes
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I reflected a lot, I thought a lot on my 50th birthday. It has been one of the most important birthdays in my life, not in terms of celebration but in terms of retrospect.
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When there’s doom and gloom, don’t forget there’s darkness before dawn.
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I made many mistakes but my triumphs have received far greater publicity than my failures.
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But I can tell you markets are like women, always commanding, always mysterious, always volatile, always exciting and it is not a joke.
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I am an optimist by nature and I reserve the right to be wrong.
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I do not think, like people say, that I am a guru or I know everything.
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There has to be a period of consolidation in the IT industry. Similarly in pharma, I think India is going to be a world power. We have the lowest cost, good technology, Indian companies are gaining size.
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Markets go up not because there is abundance of buyers, but because there is a lack of sellers.
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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.
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Markets tend to shake you up before a bull run.
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Everything which is good in life is dicey, including pretty girls.
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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.
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The biggest quest to learn anything is curiosity. If you are curious about something, you will go and dig.
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What India needs for prosperity is just ease of doing business.
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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.
RAKESH JHUNJHUNWALA