Rakesh Jhunjhunwala Quotes


wealthymatters.com“If a girl is beautiful a suitor will come. If a stock is beautiful, a suitor will come. So I don’t search for suitors when I buy the stock.”

“I have learnt two things about the press and wives. When they say something – don’t react.”

“India will remain in a phase of very good economic growth for the next 30 years.”

“Markets are like women — always commanding, mysterious, unpredictable and volatile.”

“Anticipate trend and benefit from it. Traders should go against human nature.”

” Successful investors are opportunistic and optimistic ones.”

“The mother of bull all runs is still to come.”

“I have two-three dreams in life. The first dream is that when I die and only truth of life is death, how many people come to my funeral and say, a good man has died. That is the greatest ambition in my life. Second thing is I want to earn the greatest wealth of the world in the most legitimate manner; practical legitimate manner and leave the largest part of it to charity.”

“Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible.” Read more of this post

The Difference Between Business And Philanthropy


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 ” If you open a restaurant , and the public does not like your food , you will know . If you do the wrong things in philathropy , you don’t get a feedback from the market system . ”

                   ——- Warren Buffett

I was very glad to hear these words today.The Buffett-Gates fortune is huge and I worry about how it will influence Public Policy in India.We have been too uncritical of Western ideas in the past ,adopted them with over-enthusiasm and have lived to regret it.Eg.Population Control,Green Revolution etc.I am glad that Buffett is aware of the implications of bad philanthropy.

India Emerged


wealthymatters.com I found these words of Warren Buffett in today’s newspaper.I guess it’s time for us Indians to celeberate a bit.

” I don’t consider India as emerging market , I consider it as a very big market . But if you look at what many classify as emerging market , the business tends to be much smaller . We need to invest billions of dollars and that is very tough in emerging markets . ”

                                                                                            —— Warren Buffett

Gandhiji on Wealth


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“It is my conviction that it is possible to acquire riches without consciously doing wrong. For example I may light on a gold mine in my one acre of land. But I accept the proposition that it is better not to desire wealth than to acquire it, and become its trustee. I gave up my own long ago, which should be proof enough of what I would like others to do. But what am I to advise those who are already wealthy or who would not shed the desire for wealth? I can only say to them that they should use their wealth for service.

It is true that generally the rich spend more on themselves than they need. But this can be avoided. Jamnalalji spent far less on himself than men of his own economic status and even than many middle-class men. I have come across innumerable rich persons who are stingy on themselves. For some it is a part of their nature to spend next to nothing on themselves, and they do not think that they acquire merit in so doing.

 The same applies to the sons of the wealthy. Personally, I do not believe in inherited riches. The well-to-do should educate and bring up their children so that they may learn how to be independent. The tragedy is that they do not do so. Their children do get some education, they even recite verses in praise of poverty, but they have no compunction about helping themselves to parental wealth. That being so, I exercise my common sense and advise what is practicable.

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Gandhiji on Trusteeship


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Following are some of Gandhiji’s favourite quotes from the Gita:

Na twaham kamep rajyam na swarnam na puparbhavam
Kamaye dukh taptanam praninamarti nashwam

Neither I desire a Kingdom nor do I crave for heaven or salvation, I simply desire the end of miseries of all creatures who are afflicted with grief.

Javata Priyate Dehuh Tavatsatva Hidehinam
Adhikam yo bhibhanayat sa stano Dand marhati

As much as is necessary for one’s own living only that much is one entitled to have. One who has excess of this is a thief and deserves punishment.

Ishtan bhogan hi wo deva dasyante yagna bhavitah
Tairdattan pradaryabhyo yo bhangyakte sten aiv sah

Fostered by sacrifice (hard work) you will get all enjoyments. He who enjoys it without sacrifice and giving in return is undoubtedly a thief.

These words from the Gita shaped Gandhiji’s thoughts on his concept of trusteeship of wealth.Following is an explanation of the concept in his own words:

‘Suppose I have earned a fair amount of wealth either by way of legacy or by means of trade and industry. I must know that all that belongs to me is the right to an honorable livelihood no better than what is enjoyed by million of others, the rest of my wealth belongs to the community and is to be used for the welfare of the community.’ Read more of this post

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