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.
RAKESH JHUNJHUNWALAIf you have a company called x and today you feel the price is very high. Next year it could perform very well but the price may not perform. So in the stock market what happens is buy on the rumor, sell on the news.
More Rakesh Jhunjhunwala Quotes
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What India needs for prosperity is just ease of doing business.
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You can never predict how market will react. You can model it. You may try to predict it, but weather and markets and risk, only God knows because only he has seen tomorrow.
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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.
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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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Insurance, pension reforms are going to be extremely important for the stock market because the kind of money we’ll get from that is unbelievable.
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I don’t want to lecture anybody, I would only say this to my fellow people would be to give, however small. Give what your pocket permits. I don’t think a person who is giving Rs 10, is giving less than me.
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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.
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All democratic societies eventually decide what is in favor of them.
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I do not do any trading internationally.
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I am always capital short. If I see the opportunity, I will get the money.
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The world is not going to fall as long as there is confidence in governments and in banking institutions and the financial system.
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I am not afraid of making mistakes. But my mistakes were those that I could afford. That’s very important: mistakes will happen but you must ensure that you keep them within limits you can afford.
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What leads to a growth – skills, demographics, natural resources, democracy, entrepreneurship – India has in abundant measure.
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People will laugh at me, but when they ask me to make a wish for the next life, I will say I want the same parents, same brother and sister, same wife, same friends.
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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.
RAKESH JHUNJHUNWALA