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.
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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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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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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The journey to limit crony capitalism: It’s a journey, it’s not a destination. Slowly but surely, in India, crony capitalism has died and governance is what brings about real growth.
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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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Not being dogmatic has helped me become a better stock-picker.
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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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I found the stock market very intriguing because prices used to fluctuate, I used to wonder why the price fluctuates.
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Growth comes from chaos, not order.
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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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Impossible is the word for fools in my dictionary.
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I made many mistakes but my triumphs have received far greater publicity than my failures.
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The government needs to send out a message to the business community that ‘we are on your side.’
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I think when markets go up and there is no manipulation in markets and people question the market going up and it keeps going up, that is a true bull market.
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I have far less than what people think, but far more than I need.
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What leads to a growth – skills, demographics, natural resources, democracy, entrepreneurship – India has in abundant measure.
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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?
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There is a digital revolution going on around the world and India is in better placed to tap the opportunity.
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I know film industry is not a very healthy place to be in.
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I am buying the most unpopular, most battered stocks, but then who knows?
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There can be no greater well wisher for me in life than my mother.
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My true gods are my parents. I am what I am because of them.
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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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What India needs is ease of doing business and inherent faith in the ability of Indians to catch an opportunity.
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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’d be lying if I said I didn’t like the money, but that’s not what motivates me.
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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