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Business News/ News / India/  Power of compounding! Old man holds L&T, UltraTech and Karnataka Bank shares worth over 10 crore | Watch video
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Power of compounding! Old man holds L&T, UltraTech and Karnataka Bank shares worth over ₹10 crore | Watch video

Elderly man's simple investment strategy turns him into a millionaire. His net worth has surpassed ₹10 crore through the power of compounding in the stock market. He holds shares of L&T, UltraTech Cement, and Karnataka Bank.

Watch: Elderly man's simple investment strategy turns him into a millionairePremium
Watch: Elderly man's simple investment strategy turns him into a millionaire

Stock market experts have often emphasised two key factors that will help you create wealth over the long term--Discipline and patience. These two powerful practices can generate a pool of money over time especially when it comes to investing. This is because it results in a compounding of wealth, a phenomenon where your investment generates interest, and that interest, in turn, generates more interest. The longer your investment duration, the more advantageous compounding becomes. The two remarkable examples of this theory are Oracle of Omaha Warren Buffett and The Big Bull of Dalaal Street Rakesh Jhunjhunwala. Well, several common men, who have also followed the compounding process in the stock market reaped the benefits out of it.

One such person is an old man, whose net worth has surged to more than 10 crore due to the magic of compounding.

A video of an elderly man has surfaced on the internet wherein he claimed that he has been holding 27,855 shares of L&T, 2,475 shares of UltraTech Cement, and 4,000 shares of the Karnataka Bank. If going by the claims, he would be owning more than 100 million of shares at present.

Additionally, the man claimed that he earns approximately 6 lakh of dividends annually.

And despite being a millionaire, netizens appreciated the simplicity of the viral elderly man.

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The video was shared by X user (formerly Twitter) Rajiv Mehta. "As they say, in Investing you have to be lucky once. He is holding shares worth 80 crores L&T, 21 crores worth of Ultratech cement shares, and 1 crore worth of Karnataka bank shares. Still leading a simple life," Mehta wrote.

While Mehta said that the man holds 80 crore of L&T shares, Capital Mind CEO Deepak Shenoy countred the claims saying, "Bhai 27,000 L&T shares = 8 cr no? Similarly 3.2 cr. of Ultratech, 10 lakh of KTK Bank...It's a decent amount still. More power to him".

Another X user praised the simplicity of the man and wrote, "That's called the Power of Simplicity, the Power of Compounding over the period & staying away from Panic Sell. Investing can change the paradigm shift of wealth creation over other factors".

The video has garnered 1.3 million views and amassed more than 6,000 likes so far.

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Published: 28 Sep 2023, 02:09 PM IST
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