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Rakeshji’s Take On The Year Ahead


wealthymatters.comHere is the transcript of Rakeshji’s interview on ET NOW of the day before yesterday for those of us who didn’t manage to catch it alive:

ET Now: What is your take on the current situation of the market?

Rakesh Jhunjhunwala: I am not surprised as December 20 of 2011 is still the 52-week low. There is hope in the market that the government will finally act.Interest rates worldwide are at extremely low levels. So money being cheap, there is some kind of confidence in Europe that at least no country is going to leave the Eurozone for the next six months.

We do not know beyond that. China is expected to grow better and the American economy is also showing some signs of recovery and here the markets are anticipating that now the interest rate cycle has turned. We are going to have lots of interest rate cuts next year. Despite all the pessimism, the market is performing extremely well with very good breadth and all technical indicators are extremely positive. It has always surprised me as it has risen in the last two, three months and it just refuses to correct. Read more of this post

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Some Gold Market Facts


wealthymatters.comIndia is the world’s biggest market for gold.

Imports meet almost all the country’s 800-900 tonnes per year requirements for jewellery and investment.

The market was only freed up in 1997, when the government allowed banks and other state-run trading firms to import the sensitive commodity directly.Only 31 state-run and private banks along with government trading agencies have licences to import gold because of its implications for foreign exchange flows. Read more of this post

Rakesh Jhunjhunwala on ET NOW


This is a video of a short interview of Rakesh Jhunjhunwala aired on ET NOW.I caught it on TV earlier this week.I thought of putting it up here for the actionable information it contains.So Gook Luck! But do remember not to be too greedy as even the legends can be wrong.

Rakesh Jhunjhunwala-The Rare(ing) Bull


wealthymatters.comRakesh 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

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