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.
RAKESH JHUNJHUNWALAThe 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.
More Rakesh Jhunjhunwala Quotes
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It is not that Covid is going to impede the progress of humanity. It is not as much a changing event as it was being predicted, according to me.
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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.
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I am buying the most unpopular, most battered stocks, but then who knows?
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These dire predictions of COVID are behind us. Covid is getting milder and people are learning to treat it better. The percentage of deaths is coming down. We are learning to live with it.
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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 India needs is ease of doing business and inherent faith in the ability of Indians to catch an opportunity.
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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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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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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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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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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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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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Apart from being motivation for themselves, I think big givers should also talk about their philanthropy so that their work and their success stories prove inspirational enough for many others to follow.
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Everything which is good in life is dicey, including pretty girls.
RAKESH JHUNJHUNWALA