Want to become rich? These three Rakesh Jhunjhunwala tips may help
The keen investor has shared his success stories and tips to become a successful investor, number of times. Here are the top 3 tips to follow and carve your own success path towards a rich life.
Everyone wants to be a crorepati. But it is not easy to get yourself the crore in quick time. However, it is very much possible to get on a path towards the desired crores. Among some of the few names who have carved their own success path is ace investor Rakesh Jhunjhunwala. He needs no introduction. Known as a stock guru and "Warren Buffet of India", he is one of the richest Indian investors. Jhunjhunwala has made history by creating a wealth of Rs 5,000 crore in the Indian stock market. He manages his own portfolio as a partner in his asset management firm, Rare Enterprises.
A Chartered Accountant by qualification but an investor/trader by profession, Forbes has rated him India’s 61st and the world’s – 791st richest man with a net worth of $2.8 billion. An investment enthusiast, Jhunjhunwala started investing with $100 in 1985 during his college days when the Bombay Stock Exchange Index was at 150, and now it trades around 36,000.
The keen investor has shared his success stories and tips to become a successful investor a number of times during interactions with media. Here are his top three tips:
1. Investments take time to provide you with higher returns:
Rakesh Jhunjhunwala once said that one should give his\her investments time to mature. An investor should remain patient for the world to discover his gems. He clearly meant that an investor should never be in a hurry. An investment should be given enough time to mature and provide excellent returns.
2. Grab opportunities when they come your way:
Jhunjhunwala has said in past that when opportunities come, an investor should be able to spot and grab them. The opportunities may come through technology, marketing, brands, value protections, capital, etc.
3. Don't make mistakes, which you cannot afford:
A mistake can leave a life-long impact on an investor. Jhunjhunwala once said he only make mistakes, which he can afford, where he can lift to begin again. This shows that making a mistake that cannot be corrected can be costly. An investor should always risk his/her capital, which they can afford to lose.