저자: 미상 · 외국인
요약 보기
故 라케시 준준왈라의 투자 성공 비결을 다룬다. 생애(1960년 출생, CA 합격 후 1985년 5천 루피로 투자 시작), 사망 시 포트폴리오 약 60억 달러 추정. 핵심은 포트폴리오의 80% 이상을 장기 보유로 두고 일부로 단기 트레이딩을 병행하는 전략. 손실 종목(Jaypee Associates, Yes Bank 등)에도 불구하고 리스크 대비 보상 구조 덕분에 Titan 등 소수 대박 종목의 무제한 수익을 얻었다는 설명. 장기 보유의 중요성을 강조.
다듬은 글
Rakesh Radheshyam Jhunjhunwala was born on July 5, 1960, in a Rajasthani Marwari family. He completed his graduation from Sidney Ham College in Mumbai and started studying for CA. At the age of 25, he passed the Chartered Accountant ( CA) exam. With many good offers in hand, he decided not to do a job and entered the Indian stock market.
In 1985, he started investing and trading in the stock market with just five thousand rupees. At the time of Jhunjhunwala's death in 2022, the value of his portfolio was approximately six billion dollars, i.e. more than 45 thousand crores. Now the most important question is how did he achieve such great success in just a 35-year career?
There are two main reasons behind Rakesh Jhunjhunwala's great success. What are the reasons and what can we learn from them? Let's find out now. Rakesh Jhunjhunwala worked in the stock market using the 80 20 formula. More than 80% of the portfolio was in long-term holdings, but he was not only doing long-term investments, but he was also doing trading by setting aside some amount.
He was setting aside some amount for trading, generating passive income, and using the income from trading, he was once again investing in good stocks for the long term. We can learn some things from this. Rakesh Jhunjhunwala's core portfolio was long-term, but he was also doing trading by setting aside some amount.
If you also want to get good returns, you will have to do both long-term investment and short-term trading activities at the same time, but more than 80% of the amount should be allocated for the long-term portfolio. Not only Rakesh Jhunjhunwala, but almost all big and successful investors like Radhakishan Damani, Ramdev Agarwal, Vijay Kedia, Ashish Kacholia, Mohnish Pavrai, have their core portfolios in long-term holdings.
The first secret is that it is more important now than ever. Let's find out what the second secret is. We know that Rakesh Jhunjhunwala made the most money in stocks like Titan, Lupin and Crystal, but it is not like Jhunjhunwala got profit in every stock he invested in. He also lost a lot in many stocks like A to Z Maintenance, Mandana Retail, DHF L, Jaypee Associates, Yes Bank.
However, despite losing in so many stocks, Jhunjhunwala achieved success because he knew one secret. This secret is the risk reward ratio in the stock market. In fact, this is also the biggest advantage of investing in the stock market. The biggest advantage of investing in the stock market for the long term is that here the risk is limited while the reward is unlimited.
Let's look at Jhunjhunwala's example. Suppose Jhunjhunwala invested one crore rupees each in Jaypee Associates and Titan and out of them, all his money went down in the associates. The amount he invested in a stock is more than the amount he invested in a stock. It cannot sink in it. Let us assume that Jhunjhunwala's entire capital of one crore sank in Puppy Associates.
On the other hand, suppose he invested the same amount, i.e. one crore rupees, in Titan, but he got a very good return in this share. His money in Titan increased by almost 2000 times, i.e. it became one crore rupees. This is the secret behind Jhunjhunwala's success. If you buy 10 shares, even if your entire capital sinks in five of them, you will have a limited loss on that investment.
However, in the remaining five shares, you can get unlimited profit, but for that, you have to hold those shares for life. That is why Rakesh Jhunjhunwala used to hold the shares in his long-term portfolio for life. He did not withdraw money from shares like Titan, Lupin or Crisil till the end. That is why he got unlimited profit and benefit in these shares and he got extraordinary success in the stock market. [ Appreciation]
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