Often referred to as India’s Warren Buffett, investment maestro Rakesh Jhunjhunwala says that it’s not appropriate to compare him to the legendary billionaire investor. “It’s not a fitting comparison. In terms of wealth and success and maturity, he’s far, far ahead,” Rakesh Jhunjhunwala told Reuters in 2012. The ace investor also said that he’s not anybody’s clone. “I‘m not a clone of anybody. I‘m Rakesh Jhunjhunwala, I’ve lived the world on my own terms. I do what I enjoy. I enjoy what I do,” Reuters had reported Rakesh Jhunjhunwala as saying.
Speaking at an event organised by Motilal Oswal Securities in 2014, Rakesh Jhunjhunwala said that everybody need not hold on to stocks for a very long-time just because Warren Buffett does it. “Every stock in life doesn’t have to be bought for 40 years. All of us cannot be Mr Warren Buffett in life, let me tell you. Just because he thinks that every stock should be bought for life does not mean that we should also buy every stock for life,” Rakesh Jhunjhunwala said adding, “Value investing is also buying a stock, keeping it for 12-18 months and selling it at a handsome rate. Value investing is buying value where it may not (always) be lasting value. That value could be encashed over two or three years.”
More recently in October 2017, the big bull of Dalal Street shared what sets him apart from ordinary investors. “ One thing which keeps me apart is that I have got guts. I may have Rs 1,000 in my bank but if I think the deal is worth a crore – I will do it. I have guts and setbacks don’t put me off. I feel them for 10 minutes but then I am ready to fight back,” Rakesh Jhunjhunwala told CNBC TV18.
Interestingly, Rakesh Jhunjhunwala started investing in the markets when the Sensex was at a mere 150! The 30-share barometer closed at 33,462 on Friday. “My father was also interested in stocks. When I was a young child, he and his friends would drink in the evening and discuss about the stock market. I would listen to them and one day I asked him why do these prices fluctuate. He told me to check if there is a news item on Gwalior Rayon in the newspaper, and if there was Gwalior Rayon’s price would fluctuate the next day,” Rakesh Jhunjhunwala told the channel, responding to how he started investing in the stock market. Notably, his portfolio value tops Rs 13,000 crore as of September-17, taking into consideration the listed companies where he holds at least 1% stake. In Titan Company Ltd alone, the ace investor holds more than 8.02% or 715,86,220 shares translating to Rs 5,952 crore as on date, assuming no change in holdings since September end.