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Late is not right and late is not right, there is no formula in business, Rakesh Bhaiya also used to tell us that stock price should be low, people feel that if he made so much money then there must be some formula, it is not a formula, friend, it is luck and he used to define luck in a different way, you Bhaiya used to come to our office, there is a temple in the office even today, big believer of God and elders, so he used to define luck and above our temple it is written, We God, God and Elders Blessing, that is the same thing friend, I am thinking, so Bhaiya had a very unique thing, suppose you are Bhaiya's friend, you Bhaiya had your own room, he was watching all the terminals and you will come and say Rakesh what do you want to buy and suppose at that time Bhaiya was investing in Lupin, this is a real story, I am buying Lupin, if you want to buy, take it, you can go and buy it, I once asked Bhaiya, a CFO of Kolkata had come, he told the exact same story, Bhaiya was buying Lupin, I asked him, he said Take Lupin, I was a little ticking back, friend, you are buying, why are you asking him to buy, so Prashant, if the stock price increased because I bought it, then this market would not be here, who am I, I am nothing in this market, Lupin's stock price will only increase if the company's performance improves, then the performance will increase, I have a view that probably the performance will be better, I am taking my risk behind the stock, he is taking his risk, if Lupin's stock price increases, I have zero hand in it, the entire work has been done by Deshbandhu Gupta and his daughters, I was lucky that I took a point of view on them, this guy was lucky that I told him that the risk is his, even if he does not do it, so friend, what I am trying to tell you, he used to try to explain to us consistently that in any business, you used to tell us one thing that you always invest in the realm of possibilities, here is the flip question, yes, then how did Rakesh Junjun become such a big brand, okay, because if his investing money would not have done anything in the market It is happening as you are saying, according to what you are saying, I don't know if it happens or not, okay, then they are saying that nothing happens with their information when they put it, they don't have any formula, correct, many people have earned much more money than they did, correct, but they did not become such a big brand, correct, there are many people who would be kings and queens in the stock market, who earned crores of rupees by manipulating at their own level, not by manipulating, but by genuine luck, what ever, and probably earned more money than Rakesh Jajnawala sir, it is possible, but they did not become such a brand, how did just one brand become so big in India, because there was only one person who speaks for himself, he does not use to wear his heart up his sleeve, I mean, even today, probably our Prime Minister would be more bullish on India than him, but otherwise, I have not seen a bigger bull than him on India, his thinking is about where the country will grow, secondly, he was thinking that to grow the country, to grow our GDP The capital market is of immense importance because what is the difference between capital allocation in India and China?
In India, the capital markets allocate capital. If you are efficient, you will get money; if I am inefficient, I will not. In China, because it is an autocracy, the state allocates capital. So, it makes no difference. That is why China's banks are in trouble. Indian companies, which are our top 100 Nifty companies, have the highest RO among any companies in the world.
Because the market is allocating capital, if you are efficient, you will get capital. You will start becoming more efficient. Bhaiya, would go and educate Indian investors? He was the first person who would go on CNBC and he would talk about India's structural story. Why everybody should believe in India?
Why everybody should talk about why everybody should invest in the Indian stock market? And he used to tell people that investing is not a part-time job; it is a full-time profession. Don't run after tips. Tips are the engine to wealth. Sorry, be a long term investor. Don't invest your capital. Give it to mutual fund guys.
They are professionals. They know how to build wealth. Your question is right. So Bhaiya has two business models. One is trading. His capital was built through trading. His wealth was built through investing. Among the very few people I have seen in my life who can build a wealth between trading and investing.
If you come to our office, we have 10 commandments of trading. Bhaiya has another 10 commandments of investing. They are not formulaic commandments. So when they trade, their mindset is different. They never do day trading and never do week trading. They don't buy Nifty today to sell tomorrow. They have a view of Nifty.
That view is formed on the basis of country's growth which is happening versus the result. Now if you look at Nifty, there are profits of 30 companies and 30 companies within Nifty. You can calculate the EPS of Nifty. Yes, Nifty trades at a p multiple today. SVR speaking of Nifty trading at the stock market, the one- year forward p trades today.
Nifty trading is about 18 times a 25. Now, in Nifty, the market cap of each company is given a weightage. Financials has a weightage of 35, Consumer has a weightage of 18. For example, they used to study the balance sheets of Nifty 30 companies today. Sorry, what should I say today? Bhaiya, no, Bhaiya, you can ask about the P&L balance sheets and cash flows of Nifty 30 companies.
Here, we were eight people in research. We used to study more than eight people like Rakesh Bhaiya every day. Okay, now on a basis, all the macro information coming is starting to make a view, friend. And secondly, he used to tell me, Prashant, you take me to any country and make me sit in front of the screen, we will make money.
Because as a trader, we never trade on opinion, we trade based on price difference. When they look at the screen, you know? What volume is going on? Which stock is increasing? Is it increasing with volume or decreasing? You are taking your decision based on the sentiments of the market. Watches are reflecting in the volume.
They never trade on the basis of whether I am right or wrong. I have taken a point of view. If the market is telling me that my point of view is wrong, then we tighten the stop loss. So the first commandment of trading is that you trade on the basis of price, not on the basis of opinion. Your first loss is your best loss.
We never confused trading with investing. Be it Rakesh Jajnawala, Radha Kishan Damani, Ramdev Agarwal or Nim Shah, I learned one thing from all of them which we could not implement. Very few decadal compounding stories are found in the world. You will see someone growing for a year, growing for seven years, but if you match the decade compounded growth of 15-20% for 40-40 years, you will be shaken.
They had the wisdom that if someone compared me to them. If you get a compounding story then do n't sell it because you will get only one or two such opportunities in life. If you want to see more such insightful shorts and clips then subscribe to this channel.
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