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Rakesh
Jhunjhunwala needs no introduction. A living legend, whom almost
everyone tries to emulate, but none have succeeded. He is loved,
he is hated... but the man commands respect on the street. He
is blunt, he is rude… but his integrity is his hallmark.
Often called India's Warren Buffet, he is still one of the country's
richest individual investors and his net worth is estimated to
be over Rs 4000 crores.
What makes this man tick? Nobody has ever understood him.... Not
until this maverick's style and characteristics were laid bare
at a presentation by him at the Foundation for Liberal And Management
Education (FLAME) Institute on 14 Nov 2009.
What was unveiled reflected this man's style and perhaps the truth
behind his stupendous success. This article demystifies the persona
and also offers the best lessons on successful investing…Best
said in his own words is this quote "Whatever you can do
or dream you can, begin it. Boldness has genius, power and magic
in it."
Rakesh
Jhunjhunwala's
CHARACTERISTICS
He is an independent
thinker.
Has a passion
for equities. Is a measured risk taker.
Is a trader,
an investor, a venture capitalist.
Is not afraid
to make mistakes, but affordable ones.
If he has
made a mistake, he recognizes it, writes it off and moves on.
Never regrets, but always learns.
No religion,
no emotion, no ego… follows no rules. But, means for him,
remain more important than the ends.
Accepts with
an open heart and mind that the only constant is: change. The
urge to learn is a journey, not a destination.
Practices
the magic of emotionless leverage, with discipline.
Has Patience
born out of conviction. His philosophy" Be greedy, but be
long- term greedy - understand the role of time".
His word is
his bond, Is high on integrity.
Loves his
independence.
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Rakesh
Jhunjhunwala's
TEN COMMANDMENTS
FOR INVESTING
Be an optimist
- The necessary quality for investing success.
Expect a realistic
return. Balance fear and greed.
Invest on
broad parameters and the larger picture. Make it an act of wisdom,
not intelligence.
Caveat emptor.
Never forget this four-letter word - R-I-S-K.
Be disciplined.
Have a game plan.
Be flexible.
For Investing is always in the realms of possibilities.
Contrarian
investing. Not a rule, not ruled out.
Its important
what you buy. It's more important at what price you buy.
Have conviction.
Be patient. Your patience may be tested, but your
conviction will be rewarded.
Make exit
an independent decision, not driven by profit or loss.
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That
in effect is the man - Rakesh Jhunjhunwala, whose characteristics
and investing principles have made him, what he today is: India's
most successful investor.
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