Rakesh Jhunjhunwala's 'most valuable' advice is from his 'worst' investment. What he had said
On 21 August, Anand Mahindra shared his thoughts about a certain advice by Big Bull Rakesh Jhunjhunwala. As per him, this was the most profitable investment advice that India’s Warren Buffett had ever given
PremiumAce stock market investor Rakesh Jhunjhunwala who was referred as India's Warren Buffett, died on 14 August. A self-made trader, investor and businessman, he was also known as 'Big Bull' of Dalal Street.
Rakesh Jhunjhunwala frequently spoke about generating wealth and investment and many wished to learn more from Big Bull regarding stock market investment. But his one worst advice has gone viral on social media which Jhunjhunwala had encouraged everybody to invest the most.
Also Read: What Rakesh Jhunjhunwala said on how to generate long-term wealth
On 21 August, Anand Mahindra shared his thoughts about a certain advice by Big Bull Rakesh Jhunjhunwala. As per him, this was the most profitable investment advice that India’s Warren Buffett had ever given. The quote is a part of an interview with Economic Times.
“At the last stage of his life Rakesh gave the most valuable and profitable investment advice ever. It’s advice that is worth billions and the best part is, it requires investing your time, not your money," Mahindra wrote.
Also Read: When Rakesh Jhunjhunwala spoke about death, plans to give away wealth to charity
What Mahindra is referring to is when Rakesh Jhunjhunwala said, “My worst investment has been my health. I would encourage everybody to invest the most in that."
Jhunjhunwala died of a sudden cardiac arrest which was the cause of his death. As per Dr Pratit Samdani of Breach Candy Hospital, "He was also suffering from chronic kidney disease, was on chronic dialysis & was responding well. He was diabetic and had recently undergone an angioplasty.
Earlier in 2012, Jhunjhunwala had that a 50-year-old man's life expectancy was constrained due to his daily consumption of six pegs of whiskey, 25 cigarettes, lack of exercise, and eating "like a pig."
As a qualified CA and son to an Income Tax officer, Jhunjhunwala had entered the stock market in 1985 when Sensex was at 150 points with just ₹5000. The journey which began with ₹5,000 and today he has left this world leaving $5.8 billion wealth (according to Forbes data) for his family.
Rakesh Jhunjhunwala ruled the Indian stock market for decades, making intelligent investment choices to build an empire of stock holdings worth over ₹40,000 crore. He was India's 36th richest person.
The 62-year-old's entry into the capital-intensive sector raised eyebrows earlier this year, with many pointing to the chequered history of billionaire-backed airlines in India as well as the daunting global economic outlook. Jhunjhunwala had invested $35 million for an estimated 40 percent stake in the new airline. "A lot of people question why I've started an airline. Rather than answer them, I say, I'm prepared for failure," the billionaire had said.
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