원문 보기
Then what are the key lessons for our audience? If we live we live in a world today where you know the young just go on an app and invest in SIPs. I don't know either dream or aspire to be someone like Rakesh Jhunjhunwala start from a very humble middle class background and build up his portfolio out of nothing but his own skills.
He never relied on anybody. He did rely on people. I mean he relied on his brother to raise that 25 lakh capital. I mean his family must be congratulated not for exercising pressure on him. So one in addition to an extraordinary intellect he was blessed with a very supportive family and that underscores the importance of personal life or the quality of your personal life in professional success.
So some of us are endowed with that and some of us have to consciously work on that. So if anyone who aspires to achieve professional success I believe should first I mean that that is not people what people would say when they speak of Rakesh Jhunjhunwala but when because Mrs. Rekha Jhunjhunwala was so trusting and warm and welcoming she actually invited me home and introduced me to Nishtha and Aryaman who were there at home.
I I went to their villa. Wow. Vishal Gupta and Mrs. Rekha Jhunjhunwala invited me. Amazing. And you know and Mr. Amit Goela Vishal Gupta they they just you know they were so trusting. I I'm I'm an unknown quantity. I was an unknown quantity to them but they put me in touch with Mr. Ramesh Damani they put me in touch with Mr.
Bhaskar Bhat. I mean that you know I finance is known to be a cutthroat industry but you know here it here is an enterprise which is so collegiate and which is so when when you step in you you feel the energy but you don't feel the stress and I and I think that's a sweet spot. Okay. So uh Rakesh Jhunjhunwala was helped by people.
He was endowed with in addition to a great intellect with a supportive family. So the first learning is to set your personal life if if you're not endowed with a stable personal life to set that in order and consciously aspire to do that. The second is a vision. So all of us cannot be Rakesh Jhunjhunwala.
So but you know that dream I mean when you see a watch like you know Vikram Seth in Suitable Boy Lata would tell Harsh you know like you aspire to see a pair of footwear in every Indian's on every Indian's leg. That that vision you know that he saw a watch on every Indian's wrist. He saw jewelry on on most Indians you know wearing jewelry.
He he saw how financial services would explode in India. So that that vision I mean it is very important to visualize. Third is to be realistic realistic. You know he said if I earn 15% I'm a prince 20% I'm a king 25% I'm an emperor. That he made 100x and his portfolio doubled with Star Health listing in December 2021 is another story okay but those were his expectations.
Let's be realistic Warren Buffett did not build his wealth overnight. Rakesh Jhunjhunwala did not build his wealth overnight and we are unlikely to build our wealth overnight. But what the but that and then skills and knowledge. So investing I have met people who don't know the difference between mutual funds and exchange traded funds.
Okay. Okay. So and then investing in mutual funds also requires skills it also requires knowledge it requires monitoring and decisions are to be made. Investing in equities also require these attributes. So whatever be the channel you choose whether you Rakesh Jhunjhunwala said decide on your portfolio allocation.
If you have the skill and knowledge invest in stocks otherwise stick to mutual funds. I think that's a I agree with him. I didn't agree with all his investment decisions but that's just the analyst in me speaking. But that is that is solid advice and he he would also say you know he was politically incorrect.
So he would say a pretty girl walked to me Jefferies and asked give me a tip to in the double my money you know in 5 years and he would say I told her go to Mahalaxmi racecourse and then he would say all those who thought that they were the lords of the last street and ended up in Arthur Road jail. So he was talking about capital risk and franchise risk.
So we need to be mindful of the capital risk our portfolios are exposed to and our own we all have a franchise and the franchise risk. You know we should be aware of that. Folks set your personal life in order have a vision be realistic and fourth have a risk framework.
Comments 0