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Nothing is stable here. Neither time, nor luck, nor these waves of the market. But amidst these waves, a name emerged which had the courage to change the direction of the waves. A name which is one of the best traders not only in India but in the whole world and is the only Indian. Rakesh Jhunjhunwala.
People called him Big Bull. But he was that philosopher of Dalal Street. In today's video we will not just see a biography. Today we will try to read the mind that turned ₹5000 into ₹400 crores. And remember, we will also talk in detail about those five rules of Rakesh Jhunjhunwala which took him from zero to the top.
July 5, 1960, monsoon rains were pouring on the streets of Mumbai. Rakesh was born to Radheshyam Jhunjhunwala in a Marwari family in South Mumbai. His father was a strict income tax officer. The atmosphere of the house was full of discipline. But the atmosphere would change in the evening. Big brokers and businessmen used to come to Rakesh's father every evening.
They used to talk about the country's economy, power stocks and profits. Rakesh, just 12 years old, was sitting in a corner, drinking in those discussions with his big eyes. He understood that only two things are true in this world. Time and money. One day Rakesh asked his father , Papa, what is this share market?
Why do these prices fluctuate daily? Father did not give any bookish answer. He said, Rakesh look outside . The market is not just numbers. The market is a mirror of people's sentiments. If there is good news about a company, people will become greedy and prices will rise. If the news is bad, people will get scared and prices will fall.
It was from here that Rakesh understood the psychology of the market. He started reading the newspaper. He would go through the Times of India finance charts like a child reads comics. Rakesh Jhunjhunwala was average in studies. But a genius in mathematics. He started studying Chartered Accountancy.
But more than auditing the balance sheet, he was interested in seeing the future hidden behind the balance sheet. When he completed his CA in 1985, he said something to his father which shocked his family. He said I will not work in any firm. I will trade in the stock market. After a long silence, the father said, okay but I have two conditions.
First I wo n't give you a single new penny. Invest your savings. Secondly, you will not borrow from any friend or relative. This was a test of Rakesh's self-respect. He had only ₹5,000 in his pocket. Standing outside Dalal Street, he looked at the huge building and said to himself, today I have come to you with only ₹5000.
One day you will be known by my name. The market in 1985 was not like it is today. There were no computers there. There were people shouting and prices being written from the square. He cast his sharp gaze on Rakesh. He saw a share. Tata T At that time, Tata T shares were trading at ₹43. Rakesh did the research.
He felt that the demand for tea would never decrease and Tata's management was solid. He played a big bet. Bought 5000 shares. People used to say that this boy is mad. Put all the money in one place. But after 3 months a miracle happened. Tata T's share jumped from ₹43 to ₹143. Rakesh Jhunjhunwala got the first big profit of his life of ₹5 lakh.
For a middle-class boy, ₹5 lakh in 1986 was equivalent to ₹5 crore today. The players of Dalal Street knew that a new lion had entered the jungle. Very few people know that Rakesh ji used to donate a large part of his earnings. Once a social service organization came to him for help. He thought that Rakesh ji would probably give a few thousand or one lakh rupees.
Rakesh ji asked him only two questions and without any fuss, issued a cheque and placed it in his hand. When the people of that organization saw the cheque, their eyes widened. That cheque was worth crores of rupees. He asked, "Sir, such a huge donation and you did not even tell anyone." Rakesh ji said just one thing.
God has given me more than I need. If I can put bread in someone's plate, what is my favor in it ? This is just my duty. This story teaches that real wealth lies not in the bank balance but in the intention to give. He taught that the ultimate aim of wealth creation should be the welfare of the people.
Rakesh Jhunjhunwala considered DMart owner Radhakishan Damani as his mentor. In the initial days, Rakesh ji used to trade very aggressively and at times took huge risks. Once there was a huge fluctuation in the market. Rakesh ji was stuck in a trade and was under a lot of stress. He went to Damani ji.
Damani ji did not discuss any financial matters with him. Just took him to a corner and said Rakesh stop looking at the screen. If your research is correct then the market will listen to you, if not today then tomorrow. And if the research is wrong, then looking at screens won't reduce the losses. Damani ji taught him the importance of peace.
Rakesh ji learned that day that money in the market is earned not with the mind but with peace and patience. This story teaches the importance of mentorship. The biggest player in the market also admitted that it is important to have a guru in life who can handle you when you are overwhelmed by emotions.
Despite having wealth worth crores, Rakesh ji's tastes were simple. He loved eating Mumbai 's footpath food and watching the markets while sitting on a simple chair. One thing about his last Diwali was much discussed. He had all the comforts of the world but he sat with the junior staff of his office, had a simple breakfast and hugged them just like he would hug a big industrialist.
He often used to say that even today I am the same boy who brought ₹5000. My bank balance has increased. My spirit hasn't changed. Even when he was in a wheelchair, he had that old boyish laugh . He never allowed his illness or his wealth to dominate his personality. This story teaches us groundedness, i.e.
staying connected to the ground. The true identity of a great person is not forgetting his roots even after reaching the pinnacle of success. Now we are in the part where you will learn how to make a career in the stock market. Those five rules of Rakesh Jhunjhunwala. Rule one: The market is never wrong.
The market is supreme. Rakesh ji often used to say that the market is my God for me. This did not mean that the market always behaves logically but rather that the market is the ultimate truth. Often investors start cursing the market when they buy a stock and it starts falling. They say they do n't understand the market.
This share is very good. Rakesh ji used to call it ego. He believed that if the market is going against you, don't try to bend the market. Admit your mistake. Take your stop loss and get out. The market is a vast ocean. You cannot change the direction of its waves. You can only learn to turn your boat with the waves.
Rule two: do your own research. Invest after your research. Rakesh ji had a famous saying. Only the waiter gets paid on tips. Most people lose money in the stock market because they invest on the advice of a friend, TV anchor or relative. Rakesh ji used to read annual reports of companies for hours.
He deeply understood the company's profit, debt and management vision. He said that if you are investing your hard-earned money in a company and you do not want to read about it even for 10 minutes, then you are not investing but gambling. Investing without research is like shooting an arrow in a dark room where there is no target.
Rule Three Conviction and Patience The Power of Sing. He used to say that money in the market is made not by the brain but by sitting. Finding a good company is only 10% of the work. The real challenge begins once you buy it. The market will scare you every day. Prices will fluctuate every day. Rakesh ji held Titan shares for more than 20 years.
During this period, the market faced many major recessions and crashes but his conviction remained unshaken. He had the courage to sit. He taught that if a plant is planted today, one will have to wait for years to eat the fruit. A tree does not grow by uprooting it every day and looking at its roots.
Rule four, risk management. Survival is the key. Rakesh ji believed that staying in the market is more important than making profits. He used to say, take only as much risk as you can afford to lose while laughing. The biggest mistake in the stock market is investing using leverage or borrowing money.
Rakesh ji never worked by taking loans after the initial days. He said that if you have ₹100 then do not bet ₹1000. If the market goes against your expectations, the burden of debt will ruin you mentally and financially. In the market, the player whose pockets are empty can never win. Invest only from your spare capital.
Rule Five Bet on India Bet on India. There has hardly been a bigger Indian Bull than Rakesh Jhunjhunwala. His biggest mantra was optimism. He used to say that if you keep thinking about recession, you will never be able to make a big investment. He had immense faith in India's demographics, its young population and growing trade.
He believed that as India grows, Indian companies will grow and this will directly benefit the investors. He often responded to critics. If you are not buying India's growth story, you are making the biggest mistake of your life. His entire wealth was built on the foundation of India's development. Rakesh Jhunjhunwala was not a person but an ideology.
He is not among us today but his every move teaches us courage. This was the journey of Big Bull. You are viewing Deed Wealth Files.
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