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I am the son of an Income Tax Officer but I am a Marwari Agarwal so business is in our blood and my father also had some interest in the stock market so when I was 12, 13, 14 years old his friends used to come over in the evening we used to discuss at that time Century Mills Gujarat State Fertilizers Gwalior Rain Tata Steel all these big companies were our favorite companies so I was always a very inquisitive kid so I used to ask a lot of questions to my father like why did the price of Tata increase or decrease in Century then he used to say look at that time there was no computer, it used to run from 12 to 2 o'clock we used to read and we used to know the price of the day next so father used to say look there is news in the paper today, will the price of gun increase or decrease today check it tomorrow so I used to check it and then I started reading balance sheets at that age people have a lot of interest, some want to become pilots, some are interested in cars, all the boys were interested in girls, I was interested in city market When I went there, my father was a very democratic father.
He always said, do whatever you want to do. I had an elder brother who had become a chartered accountant. My father used to practice, so he said, I wanted one of my sons to practice, he is doing it, so do whatever you want to do. I became a CA, so I said, I would have gone to the stock market. He said, the stock market has gone bust yesterday, what will I do there?
No one will give me a job. I became a CA, so my dad said, hey, what will you do now? I said, Daddy, I will go to the stock market, what will I do there? I will invest. He said, I will invest, okay, but where is the money? Do n't do it in front of me, I will do it this way. Do you understand? But he said, look, I have a house in Mumbai, if anything happens, I can manage.
You are an educated chartered accountant, do you understand? Then you will get a job. If you have a house and a job in Bombay, there is no problem. He said, look, never forget your word, never forget your word, your bond, be fair and may God bless you for only him. Blessed but one fat don't fugitive in life you have my blessing but no money from my mother said we were from a Marwari Kant family, mother said if you go to Sher Bazaar then who will marry you, said mother don't be afraid there will be one less sister to tease you, then taking that 000 I went to Sher Bazaar, father used to live with mother, I was not married, father and mother used to take care of the household expenses, my brother was practicing so he introduced me to two-three of their clients, so I convinced them, in those days the interest was 12%, I said I will give 18% interest, you give me the money, first a lady gave her and said in security, I am here, I don't have anything else, then she said okay I will give you 1 lakh rupees, first take 1.25 lakh rupees, take his shares and give me shares as security, then 1 lakh and I started like this, then a client of a brother gave 1 lakh rupees and you wo n't believe it, it was in 1985, in one year from 1 lakh rupees I earned around 30 lakh rupees I earned and paid Rs 4 lakh tax in those days, but God, I mean, father did not do any encouragement, brother did not have clients, so I was not going to get all this money like that, then I got married, there was recession for two-three years, then there is a long story, I lost my shares and bought lions, the price of Rs 6 went up to Rs 65 from Rs 25 in four months, and whatever I earned Rs 2 lakh, I bought all the shares of Tata Power, their price went down to Rs 1000, then it became Rs 2-4 crore, Rs 2-3 crore, a budget of Madhun came, that lion market, all the lions were hit like this, I don't know, boxing matches, who said sell, sell, sell, and I used to think that VP Singh was a Thakur but he was a businessman, first estate duty in India brought down the rates of tax to Rs 60, so I thought the budget would not be bad, so I invested the Rs 8 crore that I had in stakes in the budget of 1989, and you do n't believe it, should I tell anyone, and when I got married, my wife was from a rich family, she used to live in an AC room, she had a car, we did not have a car We used to travel by bus, my wife has asked for only one thing in my life till date, when will we get an AC installed in our room, understand that day when the budget used to come in the evening, the market was not open after 6, so at 6 the network was 3 crores and even at 9 the network was 20 crores, so I went and asked for only one thing, took Rekha home, at 2 o'clock in the night after discussing everything I said Rekha, your AC has come and then God supported me and what did I do, I never did anything wrong to earn money, what did my father say, this is a lion market here, some come avoiding their wives, some come avoiding their wives, never take anyone's help, those were the days and today is the day, sometimes I will manipulate some lion, sell it here and there, I don't know all these businesses, you understand, I would have done it if I had done it but I couldn't do it, God has given me a lot of money today, what can I say that I have for less, I am tired but far far far far more than I need wealth, what purpose will I do with the money, children I will give 500 crores to him.
After that, I often think that I should die to earn money. My son-in-law and daughter-in-law and son and daughter, if you understand then I am happy, I do what I want. The wealth allows me to do what I want and I live my life by my time and what ever success I had, I think patience, hard work, taking defeat with a smile.
I suffered a huge loss in life. I faced many setbacks. I have sold shares many times to avoid loss but it happened once. Never be afraid to make a mistake. Only make one you can afford, so that you may live to make another one. Because if you are afraid to make a mistake, you cannot take any decision.
I make mistakes. I invested money in a company A to Z and lost 50 crores. I never spoke harshly to its promoter. I said I made a mistake in judging him. Blame yourself for your decision, learn from it and forget it.
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