For Whom Wealth Matters
July 21, 2011 1 Comment
Nobody but a person who has already become what you want to be can tell you what you need to do to get yourself there.Here’s Jack Canfield on how to get the mentor of your choice.So all you would be ace investors , entrepreneurs and would-be billionaires here’s something for you:
June 12, 2011 4 Comments
Below is a favourite but somewhat dated Rakesh Jhunjhunwala interview.I frequently revisit the article to read about how he started out.Every time I wonder how I might be able to do what I want to do with so few resources,I find reading his story inspiring.Also I like his way of limiting risk,dealing with loss , having flexible targets and dealing with unfavourable opinions.The red ink is mine.It’s to highlight the parts I find interesting.As a side note,I also like reading the account of the 1993 blasts,if for no other reason than to remind myself about the spirit of Mumbai and the grit of all Mumbaikars. Read more of this post
June 11, 2011
Mr. Rakesh Jhunjhunwala, combines diverse skills as a equity trader, visionary investor and incubator of new businesses through private equity.He is the first dollar billionaire from India to have made all his money by investing–primarily in stocks.Converting Rs 5000 to a billion dollars is no mean feat.Moreover since he deals exclusively in Indian stocks and often in publicly traded companies, whose shares we all have access to,it’s well worth spending time learning how to invest one’s way to wealth from him.
Firstly,Rakesh believes that the choice of asset class is important . As he says”If you bought gold in 1970 and sold it in 1980, you bought the Nikkei Index in 1980 and sold it in 1989 and then bought the NASDAQ [till before the dot-com bust], you would have made 33% compounded returns in three decades.”Personally, under the guidance of Mr Radhakrishna Damani, he made a lot of money shorting stocks at the time of the Harshad Mehta scam post 1992.As he says,”My decision to aggressively invest in the asset class of Indian equities at the right time was a very important determinant of my success.”As Rakesh believes that the mother of all bull runs is still to happen in India ,for people like us,sticking to Indian securities as an asset class might not be such a bad idea! Read more of this post
April 27, 2011 9 Comments
Rakesh Radheysham Jhunjhunwala is a famous Indian stock investor.He lives in Malabar Hills with his wife Rekha ,daughter Nishtha and twin sons Aryaman and Aryaveer and works from his office at Nariman Point in South Mumbai. He regularly appears on various business channels on television to share his ideas and opinions on the Indian markets. He is well-known in investing circles as ‘Rocky’ and among his close associates as ‘Bhaiyya’.He is considered to be India’s Warren Buffett. In 2010, Forbes rated him India’s 51st and the world’s 1062nd richest man with a net worth of $1.0 billion.He is the first dollar billionaire from India to have made his fortune primarily from the stock markets.
He considers Mr Radhakrishnan Damani as his guru (mentor) and best friend.He counts Kamal Babu, Ramesh Damani and Kamal Kabra as friends.He manages his own portfolio as a partner in his asset management firm, Rare Enterprises (Ra-Rakesh Jhunjhunwala, Re- Rekha Jhunjhunwala).“The sheer passion for markets and the ability to do what I enjoy is what inspires me,” says Jhunjhunwala. He has been asked to manage other people’s money, but prefers the freedom of not having to answer to anybody, and has thus turned all offers down.Rakesh does not try to beat the market as opposed to investment managers who have to answer to a lot of people, and hence look at indicators like how much alpha — or returns in excess of the general market — they are generating. “The only person that I have to answer to is my wife, and she just wants to know what the absolute returns are, not whether I am beating the market”. He expects the market to do very well as he believes that India is at the beginning of an unprecedented multi-decade bull run.Obviously he believes in putting his money where his mouth is as he owns only Indian equities.There are 7-8 stocks that make up 80% of his portfolio, and his holding period stretches from 3 years to 10. Read more of this post
March 9, 2011 1 Comment
Shri Siddhivinayak is one of the popular deities of Mumbai.His temple is located at Prabhadevi.Here is the link to the temple website : http://www.siddhivinayak.org/
The idol of Shri Siddhivinayak here is carved out of a single black stone and is 2’6” high and 2′ wide with the trunk on the right. The upper right and left hands hold a lotus and an axe respectively while the lower right and left hands hold a japmala and bowl full of Modak respectively. As it resembles the sacred thread, a snake appears on the left shoulder to right side belly. On the forehead of deity is an eye, which almost looks like the third eye of Lord Shiva. On both sides of the Lord Ganesh idol, are placed one idol each of Riddhi and Siddhi goddesses who appear to be peeping from behind Ganeshji. Because of these two deities along with Lord Ganesh, this temple is known as the Siddhivinayak Ganapati Temple. These goddesses signify sanctity, success, wealth and prosperity. Read more of this post
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