The first stock I bought was Tata Tea, the first stock where I made big money was also Tata Tea.
RAKESH JHUNJHUNWALAYou 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.
More Rakesh Jhunjhunwala Quotes
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I know film industry is not a very healthy place to be in.
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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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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.
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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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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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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 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.
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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 found the stock market very intriguing because prices used to fluctuate, I used to wonder why the price fluctuates.
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What leads to a growth – skills, demographics, natural resources, democracy, entrepreneurship – India has in abundant measure.
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I started my life with Rs 5,000.
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Markets may in the short-term correct. But in a bull market the correction is always sharp, swift and short-lived.
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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 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 think true love – love, wine and beauty, they better with age.
RAKESH JHUNJHUNWALA