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Today let's talk about that uncrowned king of the Indian stock market. Whom the world knew as Big Bun. Yes Yes, we are talking about Rakesh Jhunjhunwala. Look, this was not just a dialogue. This was a prophecy. It seems as if he had already announced his fate. And then the whole world saw how it came true.
When he said goodbye to this world, he left behind a legacy of ₹45,000 crore which is not easy to even think about . But the biggest and most interesting question is how can someone create such a huge wealth with just ₹5000? So let's turn the pages of this amazing journey today. Look His story had humble beginnings.
But the dreams he had were not at all modest [musical]. Rakesh Jhunjhunwala belonged to a Marwari family from Hyderabad. His father [Sangeet] was an Income Tax Officer, so there was always talk of taxes and stocks at home and this environment ignited the stock market bug in him at the age of just 15.
When he asked his father for money saying that I also want to invest, he got a piece of advice which became a golden rule for his entire life. Never borrow from a friend or relative to invest in the market. Then the question arises, where did the money come from? Let's see how he took his first big chance and won it.
Taking his father's advice as the last word, he started with ₹5,000 of his savings. But just look at his confidence. He raised ₹5 lakh from a client by promising 18% returns and then with the help of his brother, he collected a total capital of ₹1 lakh. And his first big bet was on Tata Tea. Imagine buying shares at ₹43 and selling them at ₹143 in just 3 months.
A straight profit of ₹5 lakh in one stroke. This one trade took his confidence absolutely sky high . After this first big win, some people entered his life who changed the direction of his career . He met Radhakrishna Damani. Yes, the same Radhakrishna Damani who is the owner of Damani today. Damani sahab became his guru and it was he who taught Rakesh those down pages of market which are not found in books.
Well, there is a simple formula to understand the market. One is a bull market, meaning when the market is going up, and the other is a bear market, when the market is going down. In the bull market, everyone buys at a low price and sells at a high price, but the real game happens in the bear market.
Where money is also made by short selling. So in the 90s, Rakesh Jhunjhunwala and Damani were part of a bear cartel . Meaning those people who used to bet on the market falling. And he was in direct competition with the biggest Big Bull of that era, Harshad Mehta. The Harshad Mehta scam had shaken the entire country.
But this scam became the biggest turning point in Rakesh Jhunjhunwala's life. What happened was that as soon as the Harshad Mehta scam was exposed and the market crashed, Rakesh Jhunjhunwala earned Rs 30 to 35 crores in a few days through short selling. Unbelievable isn't it? But the biggest turn-off here wasn't making money.
The real turning point was the change in his thinking about . He understood one thing that scams will keep coming and going. The market will fall as well as rise. But India's growth story will only go up in the long term. And just this one thought transformed him from a short term trader to a long term investor.
So let's now see how this new approach [to music] actually made him The Big Bull. His most iconic story is that of Titan. In the year 2003, he bought its shares at an average price of just ₹3. Then a time came when the share fell from ₹80 to ₹30. Loss of crores . Everyone was saying sell it and get out but he remained adamant.
He had full faith in the company and today the price of that one share is more than ₹3600. He had a very simple philosophy. Do n't rush to open your umbrella when it's raining. Let the rain stop. Meaning, instead of panicking and selling during bad times, be patient. The story of Titan is the biggest proof of this patience.
But it is not that all his moves were right. He also suffered huge losses in several investments like DHFL, DB Realty and Mandhana Retail. And these failures remind us that even Big Bull made mistakes. After all, he was also a human being. He was a [musical] visionary until his last breath. His last and biggest dream was Akasa Air which took its first flight in the sky just a week before his demise.
So what can we learn from this journey from ₹5000 to ₹45,000 crore ? Is this a story about patience? Is it a story of self-confidence or a story of unwavering faith in India's growth? What is your opinion? What is the biggest lesson from the story of Rakesh Jhunjhunwala? Please write your answer in the comment box. And yes, don't forget to subscribe for the latest updates.
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