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Hello friends welcome back to Decoding Wealth. Today in this video we will learn about the King of Share Market Rakesh Jhunjhunwala who started with just ₹5000 and today his total net worth is 44 crores and why he is called the Warren Buffett of India, we will learn all these things step by step in this video.
Born on 5th July 1960 in a Marwari family of Mumbai, Future Jhunjhunwala's father was not any Tata, Birla or Ambani but he was an ordinary Income Tax Officer. Jhunjhunwala's interest in the Share Market started from a small incident in his childhood. Rakesh Jhunjhunwala's father was from the Income Tax department, so his eyes were on the Share Market and he too had some interest in the Share Market.
Rakesh's father and his friends always used to discuss the Share Market among themselves and used to listen to their talks. His 9 year old son Rakesh Jhunjhunwala one day asked his father a question that what is the reason due to which there is so much fluctuation in the stock market. His father advised him to read the newspaper daily and understand how stock prices rise or fall.
Rakesh found this very interesting and decided to pursue a career in the stock market, but his father did not allow him to do so at that time because his father was old-fashioned and was afraid of taking risks. Rakesh was a risk-taker. However, as per his father's advice, Rakesh prepared for the Chartered Accountancy exam after graduating in Commerce from Accidental College, Mumbai.
He graduated with a Bachelor of Arts degree in January 1985 and told his father that he wanted to pursue a career in the stock market. His father was also interested in the stock market but was afraid of taking risks. Therefore, his father gave him permission but flatly refused to give him money and also warned him not to take any loan from anyone.
Rakesh Jhunjhunwala was a Chartered Accountant by birth, but he wanted to pursue a career in the stock market. He took a decision here that if he could invest in the stock market, he would invest in the stock market. He needed security in case he didn't perform well in the market. He spent his entire life as a chartered accountant, and perhaps this was what convinced him to take risks.
However, to enter the stock market, risk and confidence are essential, along with money, which his father refused to give him. He then looked at his savings. He had ₹5,000, which was n't enough to enter the stock market. So, he went to his elder brother, also a chartered accountant, and convinced his clients that he would give double the returns from HD.
He took ₹2.5 lakh from one of them and ₹5 lakh from another. Then, using that money, Rakesh bought 5,000 Tata shares for ₹43. Within three minutes, these shares reached ₹143, meaning he made more than three times his investment profit. He made a significant profit from the Tata Tea shares, but a major risk awaited him.
This is where Rakesh Jhunjhunwala He started his journey of becoming a trader. This journey was not an easy one. Rakesh's early days were quite challenging and his country was India, but Jhunjhunwala 's philosophy was also similar. He took some big risks in his life due to which today he is known as Indian Warren Buffett or Big B.
He is called India's Warren Buffett because Rakesh, like Warren Buffett, had also started studying the company stock market and share market since childhood and like him, he believed in long term investment. There was one thing common in the investment theory of both of them, that is its buy and sell.
One of the big risks of their life was the 1986 Goan Goa Stock Exchange. Goa Iron Mining Company, which is today known as Vedanta Limited, was running in huge losses in 1986 and when all the investors were busy withdrawing money from Goa stocks, at that time Rakesh Jhunjhunwala was making huge money in Goa stocks.
He had invested in 25 to 26 value stocks. He bought 100,000 shares worth ₹1 crore, which meant that if Goa had sunk, it would have taken Jhunjhunwala with it. Seeing such a huge amount invested in a sinking company, you might have thought Rakesh Jhunjhunwala was crazy, but Rakesh Jhunjhunwala used to thoroughly research the company and the industry before investing in any company.
During his research on Shesh Goa, he discovered that India is one of the leading exporters of iron and steel globally, and while the shortage of these resources may be less, the demand for them will never end. Therefore, by converting his trust into Gates, he took such a huge risk that the stock of Shesh Goa increased by 20 to 25% the very next year.
This risk and profit scale was nothing compared to 1992. Yes, the same Harshad Mehta game in which he made money and made rapid profits from this game. Rakesh Jhunjhunwala is also one of them. Rakesh's business guru Radha Krishna Damani, that same uncle of ours from Deemart, at that time, was a trader of Bear Quarter Group, that is, he was a short seller, who had already come to know about the big fall in the market and the price of the stock had started falling, so Radha Krishna Damani ji asked Rakesh to short sell and at the same time Rakesh Jhunjhunwala made the biggest profit of his life.
Now, for those who do not know about short selling, let me explain it to you. Just like in normal trading, we purchase a Tata stock for ₹100 and if after some fear or holding for a few days, the stock price falls from 100 to 120, then we make a profit of ₹20, but if the stock price falls from 100 to 90, then they get a short sale of ₹10.
Just the opposite of this is short selling. Suppose a broker has Tata shares and the price of his stock is at ₹100, but I feel that the price of the stock is going to fall, so I borrow a Tata stock from this broker for some time. I am late, although I give him ₹100 as security, then I sell that share in the market again and according to my research, Tata stock gets crushed and its price falls from ₹100 to ₹50, then I again buy that share for ₹50 and return it to the same broker and take back the amount that I had paid to this broker as security, in this way I make a profit of ₹50, no lie back to the topic by the way Rakesh Jhunjhunwala, apart from risk, has another philosophy, patience, due to this story no story, he is called the Warren Buffett of India because Warren Buffett believes in buying more than selling and his share holding is for 15 to 20 years, no matter how the market is downfall, he has 100% trust in his research and one example of Rakesh Jhunjhunwala's patience mantra is his stop of titans, which he has used as a mantra.
It was to be bought for ₹3 in the year 2002-03 and in just a few years its price rose to ₹80 and then again fell to ₹30. Now in such a situation, normal investors start panicking and start selling their shares, but Rakesh Jhunjhunwala did not do that at all. He kept holding his shares. He knew that the price of Titan would increase further and right now the price of the share has reached ₹3170 and Rakesh ji has a share holding of around ₹11000 crore in Titan.
Rakesh Jhunjhunwala ji opened his own asset management company in 2003, which was named by merging the two letters of his and his wife's name. In this way, Rakesh's R.A. and Rekha's R.A. became A.R. Enterprises, in which he continued his personal investments and through this he manages all his stocks.
Famous investor known as India's Big Bull and Indian Warren Buffett passed away at the age of 65. He died on August 14, 2022, at French Candy Hospital in Mumbai. Before his death, his net worth was 44,000 crore rupees. Before his death, he used to donate 25% of his earnings for public welfare. By the way, if you also want to know the secret of how Dhirubhai Ambani built the Reliance empire, then click on this video. We will meet there. By the way.
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