If you are associated with the finance sector or not, you would definitely heard of Warren Buffet and his firm Berkshire Hathaway.
If you are associated with the finance sector or not, you might have heard of Rakesh Jhunjhunwala, the man dubbed " Warren Buffet of India". He is a partner of his asset management firm Rare Enterprises.
Who is Rakesh Jhunjhunwala?
Born to a Marwadi family in Mumbai, the son of an Income Tax Officer, Rakesh grew up to be one of the most prominent names in the stock market.
As a boy, he was fascinated about stocks when his dad and his friends would be conversing about them. He once asked his father why the prices fluctuated so much, his father told him to watch the news. This was his first lesson in stocks. The stock market always interested him and he expressed his desire to get into the stock market with his father. His father told him that he could do whatever he wished with his life but he should atleast get himself professionally qualified. Rakesh then took up CA and completed it in 1985.
He started his footing in the share market when the BSE was trading at the 150 level. As of now, it trades beyond the 30,000 mark.
Rakesh is known as the man with the "Midas touch" because when he picks a stock and invests in it, the rest of the market follows. Such is the belief of a regular investor in "the Warren Buffet of India."
His philosophy is that he learns from his mistakes and his mistakes made him the investor that he is today.
He manages his own portfolio and is the partner of Rare Enterprises, an asset management firm founded by him. He is known to be the pioneer of the "Bull Run in the Indian Stock Market." His current net worth is around $ 3.1 billion making him the 53rd richest Indian.
His story shows us that the desire to do something, backed by the will to stay at it regardless of the pitfalls will lead to success at a level beyond imagination. So believe in yourself!
Fun Fact: His firm's name is the combination of the first 2 letters of his and his wife's names. "Ra"kesh and "Re"kha.
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