The Big Bull of Dalal Street, the renowned investor Rakesh Jhunjhunwala, died on Sunday morning at the age of 62. Jhujhunwala gained a celebrity-like status in the stock market sector thanks to his expertise in investing and reputation for making accurate stock market predictions. He was reportedly on dialysis. His official cause of death has not yet been released by the hospital.
Jhunjhunwala, who is popular among investors as India’s own Warren Buffet, is survived by his wife and three children. The son of an income tax commissioner, the self-made business tycoon, stock trader, and investor grew up in Mumbai, where he attended Sydenham College before enrolling at the Institute of Chartered Accountants of India.
Rakesh Jhunjhunwala, the 36th richest man in India, began with a capital of Rs 5,000 in 1985, and because to his aptitude for stock predictions, saw that money increase many times over the years. Titan, a manufacturer of watches and jewellery, is his most valuable stated stake. The expert investor leaves behind a $5.8 billion fortune today. He was last seen publicly at the launch of Akasa Airline at the Mumbai airport, where he was a promoter. Because the businessman had been ill for a while, he was spotted at the occasion using a wheelchair.
Here are ten of Rakesh Jhunjhunwala’s most memorable quotes for investors:
- Nobody can predict the weather, death, market and women. Market is like a woman, always commanding, mysterious, uncertain and volatile. You can never really dominate a woman and likewise you cannot dominate the market.
- Always go against tide. Buy when others are selling and sell when others are buying.
- Never invest at unreasonable valuations. Never run for companies which are in limelight.
- Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it.
- You do not succeed without obsession.
- Prepare for losses. Losses are part and parcel of stock market investor life.
- Growth comes out of chaos.
- Hastily taken decisions always result in heavy losses. Take your time before putting money in any stock.
- Respect the market. Have an open mind. Know what to stake. Know when to take a loss. Be responsible.
- Stock markets are always right. Never time the market.