The stock market is a philosophy and we do not need any evidence to prove it is. Some say the stock market is like music for them and some say it is an addiction. I have also heard people talking about it as it is a money destruction machine and I have also seen people making crores from it.
The factual thing which comes out of all the philosophical aspects of this money destructive, addictive and musical stock market is that the economy of the world runs on it and it cannot be denied. People every day are making millions out of it and losing billions into it.
The small companies only path to exorbitant success is to get listed on the stock market. If I am talking too much philosophy then you must go and watch the Scam 1992 webisodes and please don’t watch the Abhishek Bachhan starrer “The big bull” that’s a huge shame. It gives a fair feel of how the stock market feels like and if you are passionate enough then you can start a Demat account, which fortunately is fairly easy in the current digital scenario, and start trading yourself or investing whichever suits your personality. Just be cautious about the addictive part and gain some real knowledge before indulging in the seductive nature of the stock market and also don’t believe in your first few profits. That’s pure luck.
A few wise words from me, If you feel like that you are earning a lot quicker than you imagined then beware my friend be ready to give it back to the stock market. The stock market is a wild animal and never try to tame it and blame it.
I have been there and I know that the one who doesn’t respect the Stock Market will never get anything in return. I know it feels like I am talking about a living creature but, trust me you will be found talking too.
I am not giving out any spoilers and this article is not at all about the Scam Web series but there is actually a famous one-liner of the series which actually stands true for the real world “Ye stock market ek aisa kuan hai jo poorey India ki paise ki pyaas bujha sakta hai”.
We will talk about the particular series in detail when I will write an article on the best movies/series on the stock market maybe! Watch this space.
Today we will look at one of the reel characters from the Scam web series and will try to unfold the story of the real character on which it is based, the one and only Mr Rakesh Jhunjhunwala also affectionately known as “The Warren Buffet” of India.
Introduction of Rakesh Jhunjhunwala
Mr Rakesh Jhunjhunwala was born on the 5th of July 1960 in Hyderabad and is an ace investor with his own private portfolio management firm and a trader also famously known as the Warren Buffet or The big bull of India. He is also a film producer and sits among the board members for many big companies. Today we will study about the story of Mr. Jhunjhunwala and his journey from Rakesh to Mr. Rakesh Jhunjhunwala. How a chartered accountant fell in love with the stock market and turned a mere 5000 rupees into an empire
The interest in the stock market evolved into the conscious mind of Mr. Jhunjhunwala when he regularly heard his father talking to his friends about different companies and the stock price fluctuations of those companies. On an average day, he turned to his father to ask the million-dollar question “Why do the prices fluctuate so much for any particular company?” to which his father’s reply was to read newspapers and advised him to keep track of the news of the company he was interested in.
Success Story of Rakesh Jhunjhunwala
Rakesh Jhunjhunwala asked his father’s permission to pursue a career in the stock market to which his father’s reply was to complete his graduate degree first. He completed his graduation from Sydenham College and also pursued chartered accountancy from the Institute of chartered accountants of India. After which he was free to pursue any career he wants but on the condition that he would not get any monetary help from his father.
This is where the struggle began, as you may know, to make money one has to invest money into the stock market which Jhunjhunwala did not have any. So, he asked a friends father for 5000rupees to which he promised him to provide better returns than the fixed deposits his friend’s father was already investing in.
His first purchase was a stock of the Tata company which gave him 3x returns and his first profit and soon he realized that the only thing he can do to generate capital for investments is short-term trading. Some people might say trading and investing are the same but Mr. Jhunjhunwala treats them both as totally different premises with certain similarities. So, that became his game plan he started trading in the futures market and generated money which he invested in fundamentally promising companies.
His take on trading is that it is well used for short-term capital gains but Investment is for long-term wealth creation.
He gives utmost importance to philosophies and discipline in the world of stocks.
Apart from building wealth and creating an outlook on companies, Mr. Jhunjhunwala likes to watch movies and he also likes a lot to read.
He was also listed as the 49th richest man of India by Forbes Magazine.
He has close to 27 stocks in his portfolio which are ever-changing and you can easily get the list by just googling it, it is strongly advised not to copy those and also not to copy portfolios of any big investment because you might have no idea when they pullback there stakes from any particular company. Instead, I would advise you to follow the knowledge not copy it. Get ideas and inspiration from the Big Bull.
Some of my favorite quotations of Mr. Jhunjhunwala from which you can taste the inspiration are
Markets are like women — always commanding, mysterious, unpredictable, and volatile.
Prepare for losses. Losses are part and parcel of stock market investor life
Always go against the tide. Buy when others are selling and sell when others are buying.
Whatever you can do or dream you can begin it. Boldness has genius, power, and magic in it.
Networth of Big Bull
Although numbers are always deceiving but the Networth is not, that is a quote by me. Just kidding.
The total net worth of Mr. Rakesh Jhunjhunwala is around 3.9 billion and is ever-changing with the changing market and its trends.
Always focus on the teachings because the numbers are always deceiving.
