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.
RAKESH JHUNJHUNWALAI do not think, like people say, that I am a guru or I know everything.
More Rakesh Jhunjhunwala Quotes
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My father was also interested in stocks. When I was a young child, he and his friends would drink in the evening and discuss about the stock market.
RAKESH JHUNJHUNWALA -
If 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.
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Ultimately savings have to go somewhere and I think they will find their home in financial markets and within financial markets, a large part in equity.
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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.
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Alternatives to oil are coming up. In the long run, it is not going to be as bleak as people are predicting but surely consumption of fuel by automobile sector is going to go down.
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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.
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Everything which is good in life is dicey, including pretty girls.
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Films are getting expensive by the day. They are making more money by the day.
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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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I don’t think Indian e-commerce companies have an evolved business model.
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I want to give more time to my children, my family, to my health.
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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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What India needs for prosperity is just ease of doing business.
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My personal opinion is that when the economy does well, anybody who has a deposit franchise will survive and grow because how can you lend if you do not have a deposit franchise?
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I think true love – love, wine and beauty, they better with age.
RAKESH JHUNJHUNWALA