Rakesh Jhunjhunwala is fondly dubbed as the Warren Buffet of India. And for the very evident reason, that their investment styles are strikingly similar.
Just like Buffet, Rakesh also knows to make golds out of a gimmick.
What is more intriguing about Rakesh, is that much like the famed investor from the west, Jhunjhunwala has also made his fortune from some savvy investments and has even savvier records.
Forbes magazine puts Rakesh Jhunjhunwala’s net worth at USD 2.6 billion, ranking him 53rd on India’s list of richest men.
Jhunjhunwala had till now bring known for his unconventional way of doing things.
Almost every time he has invested in the stock for a long bid and built his positions when others were turning away, and unexpectedly grabbed the moolah.
Where people see trouble, I try to find out opportunities. If even one opportunity is worth the deal, I seek it. Money has to be put uni-directionally to boomer back.
Last week, Rakesh Jhunjhunwala, bought 45 lakh shares or 0.9 percent stake in Fortis Healthcare.
The stock had been under disputes so far in the year 2017 but Jhunjhunwala observed the value.
The stock was down a little over 16 percent in 2017 and was subjected to Jaiprakash Associates.
Jaiprakash Associates, a funding company which might be associated with the Reserve Bank of India’s (RBI) then became the second in the list of defaulters to banks and shone in Jhunjhunwala’s portfolio.
Now that including a high profile client was a valued acquisition and cross investments helped him ran at the top of the market, Rakesh is now the biggest investor India has got right now.
His sharp shooting skills are highly admired and due to this impeccable prediction abilities, Jhunjhunwala is often compared with Buffet.
But though it is an honorary comparison, this Indian genius refuses the prodigy. He bolds remarks:
I am not someone’s clone. I am an individual named Rakesh Jhunjhunwala.
(And, we cannot disagree either!)