저자: 미상 · 외국인
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라케시 장준장왈라의 투자 교훈을 소개하는 오디오북 형식 영상. 초기 트레이딩으로 자금을 모은 뒤 장기투자하고, 감정을 배제하며, 'Buy Right, Sit Tight, Don't Panic' 원칙을 지키고, 역행 투자(남들이 팔 때 사고 살 때 팔기)를 하며, 과대평가된 기업을 피하고 PER로 밸류에이션을 확인하고, 건강을 최고의 자산으로 여기라는 내용. 특정 자산에 대한 가격 방향 예측 발언은 없음.
다듬은 글
If you like this kind of story, please subscribe. Anyone who has worked in the stock market till date or anyone who is thinking of working in the stock market must have heard one name and that is Rakesh Jhunjhunwala ji. His popularity is so much that even if someone does not know the name of any company in the stock market, they will definitely know about Rakesh Jhunjhunwala ji.
Rakesh Jhunjhunwala ji is also known as The Big Bull and the Buffett of India. Unfortunately, Rakesh Jhunjhunwala ji is no more among us. He passed away on 14th August 2022, but as they say, a person goes away but his words remain and today we will also learn about some of the things told by Rakesh Jhunjhunwala ji for investing.
We will know by following which strategies he started a portfolio of just ₹5000000 and made it sky high i.e. a portfolio of 47000 crores. It is not always necessary to learn from your own mistakes in the stock market. Sometimes we can progress a lot by following others' mistakes and strategies. So, stay with me until the end.
Perhaps you'll find the missing point in your stock market journey in the points mentioned by Rakesh Jhunjhunwala. We mostly divide our working life into two parts: young age and middle age. In our young age, we work more and put everything into hard work so that by middle age we do n't have to work as much.
And even if we have to, it shouldn't be too strenuous. The same thing applies to our stock market working life. While the initial part of our time is spent in trading, the remaining part can be easily withdrawn by investing it in long-term investments. This is Rakesh Jhunjhunwala's lesson number one: make money through trading and earn comfortably later.
You can understand this this way: trading is essential in the early days of your stock market journey because that's how you make money quickly. You can easily invest that money in the shares of a well-established company. You can also enjoy its dividends for a long time by investing in it. Is trading in the stock market so important?
Yes, it is very important. The main reason for this is that just as every business requires working capital to run, the same thing applies to the stock market as well, but here working capital is money itself, so the more money you invest, the more profit you earn. Before you prepare yourself for trading, it is very important for you to know one thing and that is that Rakesh Jhunjhunwala ji also said that the stock market is a full-time business, meaning that if you can spend your entire day in the stock market, then only trade.
Otherwise, the SIP option is the best for you. First, you should gradually accumulate money through SIP. After that, when you have accumulated a lot of money, invest it in a good stock. So this was our lesson number one, where we learned that we need to accumulate money quickly by trading in the stock market in the initial days so that later we can take advantage of long-term investing.
While working in the stock market, it often happens that the shares we have bought It's in loss, and we don't sell that stock because we become emotionally attached to it, thinking it's the first stock I bought or that it's given good returns so far, and it will surely deliver good returns in the future.
We wait for the stock to turn profitable. While waiting, the stock may not turn profitable, but our invested capital is halved. To avoid this situation, we should always follow Rakesh Jhunjhunwala's advice: If you're investing for the long term, don't associate stocks with emotions. Keep emotions only for family and special people, never for stocks.
One problem with getting emotionally attached to stocks is that you may not be able to spot any flaws in the company behind the stock and may not be able to sell it in time, resulting in significant losses. So, the next time you decide to sell a stock, heed Rakesh Jhunjhunwala's advice. Make decisions without emotions, keeping this in mind.
This was lesson number two, where we learned that emotions have no place in the stock market. We must take every decision in the stock market in a practical manner. There are many occasions in our lives when things don't go right for us, and then we say that we work hard, but the results aren't as good as we expected.
At such times, we are often advised to have faith in ourselves and everything will be fine. Just like in our lives, there will be many times in our stock market journey when nothing is going well, and we may even be unable to sleep at night wondering what will happen next. At such times, we should keep in mind Rakesh Jhunjhunwala's advice: " Buy Right, Sit Tight, Don't Panic." This means that we should buy stocks only after doing our own research, trust our research, and hold the stock until the right time arrives.
We must trust the company's business and never sell stocks under the influence of emotions, because emotions have no place in the stock market. We can understand the concept of "right sit tight, don't panic" from this example: when the Maggi controversy erupted, Nestle India's share price fell. Imagine if you had sold your shares in panic at that time, you would have reaped the benefits in the future.
As soon as the court hearing began, Nestle's share price started rising again. Today, Nestle's share price is around 00 per share. This was our lesson number three, where we learned that we should never sell our right stocks in panic because in the short term, due to some events, the company's prices in the stock market can fluctuate.
There is a slight difference between bravery and stupidity in life, and the same is true in the stock market. But I will definitely tell you how later. But before that, it is important for us to know one thing, and that is about an advice that almost all big investors give, and Rakesh Jhunjhunwala also says the same thing: always do against the tide.
Buy when everyone is selling and sell when everyone else is buying. We hear the same advice from Warren Buffett as well, only his words are different. Now, let me explain the bravery and stupidity that I was telling you about by relating it a little to this. Bravery here would be when you buy shares when their prices have fallen due to a short-term event, not because of any problems in the company.
And here our stupidity or mistake would be when everyone is selling but you buy the shares of that company. But here the share prices have not fallen due to any short-term event, rather there is some fundamental fault in the company or the company's management has committed a major fraud, hence the share prices are going down.
We can understand this from this example: during the time of Corona, we could have bought the shares because it was a short-term event due to which the share prices of the company had fallen. But when the fraud of the management of S Bank came to light, then we had to stay away from its shares because of the price management of the shares.
The reasons were lower, not because of any event. So this was our lesson number four, where we learned that we have to go against crowd behavior—sell when everyone is buying, and buy when everyone is selling. Whenever the right opportunity arises in life, we should use all our strength to seize it, because sometimes such opportunities can change your entire life.
Rakesh Jhunjhunwala knew this very well. Perhaps that's why, when Sesa Goa shares were trading at a very low price in 1980, Rakesh Jhunjhunwala grasped the opportunity and invested Rs 1 crore, a significant portion of his portfolio at the time. He also received good returns on this risk. However, this wasn't the only time Rakesh Jhunjhunwala took such a big risk on an opportunity.
In 1989, at the time of the budget, he invested a majority of his portfolio in the stock market because he was confident that at that time, he would make a profit. The government will only introduce a business-friendly budget, and that's exactly what happened. The budget was business-friendly, and his wealth multiplied rapidly within a few months.
Before you're ready to take such a big risk, you should keep in mind that Rakesh Jhunjhunwala was able to take such a big risk only because he had excellent stock market knowledge and contacts. Given our current position, it's best to avoid taking as big a risk as him and focus on taking moderate risks.
Still, if you want to take more risks, I'd advise you to risk less and gradually learn from the stock market. Remember, Rakesh Jhunjhunwala also said, "Make a mistake only big enough to allow you to come back and trade the next day." This was our lesson number five, where we learned that if we see an opportunity in the stock market, we must seize it by taking risks according to our risk capacity.
For those who do n't know, let me tell you that The stock of SSA Goa is still traded in the stock market, only the name has changed. If you know the name by which the stock is traded these days, please let us know in the comments section. If you have read any stock market related book, then there is one point which is discussed in depth in all the books and that is the valuation of the company.
Every investor, whether famous or not, always considers the valuation of the company before investing. Rakesh Jhunjhunwala also invests by looking at the valuation of the company before making a long term investment in the company. Perhaps this was the reason that he had said in one of his interviews that never invest in a company with unreasonable valuation and never run after those companies which are in the limelight.
We can understand this line in such a way that just as everything that glitters is not gold, similarly it is not necessary that the valuation of the shares of every famous company is correct. Regarding the valuation of the company's shares, we should always keep one thing in mind that if the value of the company's shares is If the valuation is not correct, the stock market adjusts the company's shares according to its value in the long run.
You can understand this like this: if you bought a company's share for ₹1, but the company is undervalued and its correct value should be ₹1, then the stock market will bring the company's share to ₹1 in the long run. However, if the opposite is true, that is, you bought a share for ₹1 and it is overvalued, that is, its share should be at ₹1, then the stock market will bring the company's share to ₹1 in the long run.
This simply means that if you invest in an overvalued company, you could quickly lose your hard-earned money. If you want to know about recent examples of overvalued companies, you can study Paytm2 Nike shares. Even Rakesh Jhunjhunwala did not invest in these shares after looking at their valuation.
Now the most important thing is how to know the valuation of a company's share. Although there are many ways to do this, I'll tell you the most common and easy method: the PE ratio, which means the company is trading at a price many times its profit. By knowing this, you can understand the valuation of a company.
So, this was our lesson number six, where we learned that we must stay away from overvalued companies because an overvalued company can quickly snatch away your hard-earned money. " Jaan hai to jahan hai" (life is worth the world), "Sar salamat to pagri hazaar" (turban is worth a thousand). There are countless such idioms and proverbs in our Hindi language that simply tell us that life has the highest value.
Perhaps not only in Hindi, but in all the languages of the world, idioms and proverbs are prevalent. Understanding this well, Rakesh Jhunjhunwala, in the last phase of his life, made many of his investments in the healthcare sector. This does not mean that we should invest by reading idioms and proverbs, but it means that we should also invest in our personal health, whether it be our life or our health.
Taking care of yourself is crucial because no matter how much money you earn, if your health isn't good, you can't do anything. If you've listened to Rakesh Jhunjhunwala's last interview, you'll know how much he regretted not taking care of his health. His last wish, to see his children grow up, remained unfulfilled forever.
We should often learn from the mistakes of others. We should learn from Rakesh Jhunjhunwala's mistakes regarding his own health and start taking care of our own health right now. Firstly, it will be the best thing for your family and those close to you. Second, the stock market is always a long-term game.
If you stay fit and fine, you can easily invest long-term. And who knows, you might become the next Vern Buffett or Rakesh Jhunjhunwala. This was our lesson number seven, where we learned that our health is our greatest wealth and our best investment. However, this is n't a stock market-related lesson.
But without taking care of your health, you wo n't be able to achieve anything, not just in the stock market, and even if you achieve something big, you wo n't be able to fully enjoy it. Rakesh Jhunjhunwala was a personality from whom there's a lot to learn. If we were to discuss everything he said about the stock market and all the investing secrets he shared in his interviews, we'd probably always run out of time.
We've learned a lot in detail in the episodes above. I've also personally learned a lot from Rakesh Jhunjhunwala, such as always accepting your losses. Never blaming anyone else for your losses, because if you start blaming someone else, you'll never learn anything. Accepting your mistakes and learning from them to improve yourself.
Always being passionate about the stock market means always knowing how to earn money from stocks and where many opportunities are available. The most important thing I learned is how important it is to be patient in the stock market. Yes, although I have not only learnt from Rakesh Jhunjhunwala ji but have also traded in stocks by following his investing method.
By the way, if you too have learnt something from Rakesh Jhunjhunwala ji and we could not cover it in this byte, then do share your learning in the comment section and if you have invested in any stock by following only him, then do share your experience as well. If you like such stories, then please subscribe.
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