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?
RAKESH JHUNJHUNWALAThe world is not going to fall as long as there is confidence in governments and in banking institutions and the financial system.
More Rakesh Jhunjhunwala Quotes
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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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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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I think the Covid-19 crisis has been blown out of proportion and has created an unnecessary fear psychosis.
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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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Everything which is good in life is dicey, including pretty girls.
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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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All democratic societies eventually decide what is in favor of them.
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I have far less than what people think, but far more than I need.
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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 don’t think Indian e-commerce companies have an evolved business model.
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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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I have two interests in life – markets and women. Both are concerned with four letter words – markets with the risk and woman with love.
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I do not do any trading internationally.
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You know, a balance-sheet is like a bikini, it shows more but it hides what is vital. I learnt to read a balance sheet and then I got fascinated by stocks.
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Not being dogmatic has helped me become a better stock-picker.
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I don’t understand the business models of Flipkart and Uber. See no logic in people saying business models like that of Flipkart will flourish but that of D-Mart will not.
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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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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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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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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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I want to give more time to my children, my family, to my health.
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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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Bull markets are Test matches and not 50-over games.
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I want to work in water resources, as I think creating a string of check dams and utilizing water better is far more cost-effective than large stand-alone dams.
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I am always capital short. If I see the opportunity, I will get the money.
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I am not giving so much of my wealth that I should feel that I am a philanthropist.
RAKESH JHUNJHUNWALA