Rakesh Jhunjhunwala is an Chartered Accountant by education and an stock market investor and stock trader by profession. Forbes magazine has rated him in year 2007 as India's 51st and the world's #1062 richest man with wealth of $1.1 billion.
He is one of the most famous and respected stock investors in India and only manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Many investors in India follow Rakesh Jhunjhunwala Portfolio curiously to identify next multi-bagger stock. A large man in his late 40s, Rakesh Jhunjhunwala was described earlier this year in a magazine as the “pin-up boy of the current bull run”. He is well known as 'India's Warren Buffett'.
Rakesh Jhunjhunwala stays at Malabar Hill and works from his office at Nariman Point in South Mumbai. He regularly appears on various business channels on television to share his ideas and opinions on the Indian stock markets. He is well known among the investing circles as 'Rocky' and among his close associates as 'Bhaiyya'. He considers Mr Radhakrishnan Damani as his guru (mentor) and best friend.
Rakesh Jhunjhunwala’s Investment Philosophy
Much like Warren Buffet, Rakesh Jhunjhunwala buys into the business model of a company and for judging the longevity and growth potential, he gives top priority to 'competitive ability', 'scalability' and 'management quality' of the enterprise. The 'entrepreneur', according to him is what makes an invaluable difference to his expected investment returns. According to him, believing in the vision and the beliefs of the entrepreneur and validating the risks that may not be perceived by the entrepreneur are the key success factors for an investor.
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Profile
Rakesh Jhunjhunwala is the Chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd and also sits on the Board of Directors of various Indian listed/ unlisted companies like Prime Focus Limited, Geojit Financial Services Limited, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies (I) Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited & Tops Security Limited.
He started his career with Rs. 5000 in 1985 when the BSE Sensex was at 150. He made his first big profit of Rs 0.5 million in 1986 when he sold 5,000 shares of Tata Tea at a price of Rs 143 which he had purchased for Rs 43 a share just 3 months prior. Between 1986 and 1989 he earned Rs 20-25 lakhs. His first major successful bet was iron ore mining company Sesa Goa. He bought 4 lakh shares of Sesa Goa in forward trading, worth Rs 1 crore and sold about 2-2.5 lakh shares at Rs 60-65 and another 1 lakh at Rs 150-175. The prices then went up to Rs 2200 and he sold some shares.
Successful multi bagger stocks portfolio
Rakesh Jhunjhunwala has managed to identify numerous multi-baggers in the past decade, notable being Karur Vysya Bank, Praj Industries, Crisil, Titan, Nagarjuna, HOEL and PSUs like BEML and Bharat Electronics, among others. The typical traits to look for while identifying potential multi-baggers, according to Rakesh Jhunjhunwala are - low institutional holding, under-researched and general pessimism about the stock.
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