Ace equity investor and billionaire Rakesh Jhunjhunwala, who passed away early in the morning on August 14, will be remembered for his vision for India and words of wisdom which will continue to guide investors going ahead. Business Today collated 11 of his best market mantras that you should know:
1. Markets are like women - always commanding, mysterious, unpredictable and volatile.
2. Always go against the tide. Buy when others are selling and sell when others are buying.
3. Stock markets are always right. Never time the market. The only rule I have is there are no rules.
4. When there is doom and gloom, don't forget there is darkness before dawn.
5. Stock market is above individuals. The market is rational. An individual can never be smarter than the market.
6. Never invest at unreasonable valuations. Never run for the companies which are in the limelight.
7. Always respect the price. At every price, there is a buyer and a seller. Only the future decides who is right. Learn to respect what you can get wrong.
8. The prettiest part of the stock is that it has to be cheap - the entry point.
9. Make mistakes. Make a mistake that you can afford so that you live to make another one. But never repeat the same mistake.
10. What matters is how much money you made when you were right and how much you lost when you were wrong.
11. Stock markets are full of risk. Risk is the essence of life. If you don't [take] risk, you are nothing.
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