- Buy - 1768.80
- Sell - 1221.22
- Net - 547.58
- Buy - 803.82
- Sell - 974.16
- Net - -170.34
Rakesh Jhunjhunwala is an Indian Chartered Accountant by qualification but an investor / trader by profession. He is a famous equity investor in India and manages his own portfolio as a partner in his asset management firm, Rare Enterprises. Jhunjhunwala was described in a magazine as the "pin-up boy of the current bull run" and by another as "Pied Piper of Indian bourses". He is tagged by the media as "India's Warren Buffett".
Son of an income tax officer, he started dabbling in stocks while in Sydenham College and plunged into investing as a full time profession soon after completing his education. He started his career with $100 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.But he credits Madhu Dandavate's Union budget of 1990 as the inflection point for his investing career which quintupled his net worth. His privately owned stock trading firm Rare Enterprises, derives its name from the first two initials of his name and wife Rekha's name.
Under the guidance of Mr Radhakrishna Damani, he made a lot of money shorting stocks at the time of Harshad Mehta scam post 1992."My decision to aggressively invest in the asset class of Indian equities at the right time was a very important determinant of my success,” said Rakesh Jhunjhunwala.
Like Warren Buffett, Jhunjhunwala is a long term investor, however he acknowledges that it was 'trading' income which helped him built his initial capital base and continues to remain an active trader as he believes it keeps one alert and always on your feet.
In 2010, Forbes rated him India's 51st and the world's #1062 richest man with wealth of $1.0 billion.
In Just 18 Months, Nicolas Darvas Turned $25,000 into Over $2 Million... This is How He Did It... ...and How You Can Do it Too! With just fifty pounds sterling to his name, at the age of 23, Nicolas Darvas fled his native Hungary using a forged exit visa, to escape the Nazis. A dancer by trade, he toured nightclubs and other venues, making a living as a performer. While on tour in 1952, a Toronto nightclub offered Darvas $3000 worth of stock in a Canadian mining company, instead of his normal cash payment. He accepted the offer, and within two months, made an $8000 profit. When this happened, Darvas became very interested in the stock market. Seeing the potential for easy money in the stock market, but realizing that his initial success was based on luck, over the next several years, Darvas became committed to conquering Wall Street. He read as much as he possibly could about the stock market. He analyzed company balance sheets, studied analyst forecasts, and read dozens of investment newsletters. This book is the result of that study, including how Darvas used his system to take a $25,000 investment and turn it into a $2.25 million fortune in just 18 months. Nicolas Darvas wasn't a professional stock trader. He was a dancer. Yet, his unique approach to stock trading, which allowed him to make money regardless of whether the market rose or fell, enabled him to make a fortune. Will this system work for you? Yes! Unlike most stock trading systems, Darvas' unique strategies work, regardless of the economy or other market conditions. In fact, thanks to modern day analysis tools, his system works as well today as it ever has. Every day, people make money in the stock market.
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"In simple terms Stock Exchange is an entity where the stocks and other securities are traded."In order for a firms stock to be traded in stock market, the company has to be listed in the stock exchange and follow other rules and guidelines of the exchanges where they are listed.