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Mr. Rakesh JhunJhunwala, the Renowned Invester "I am not in a profession but a passion." So started Mr. Rakesh JhunJhunwala, one of India's finest and rare breeds of long-term investors in the country's capital markets. Once assessed as the highest individual taxpayer, in the city of Mumbai, he is well known for his significant stake holding in corporates like Crisil, Lupin, Matrix Labs, and Great Eastern Shipping among others. One of his greatest talents is to combine great trading skills, with consummate investment acumen. His financial discipline and personal integrity has kept him safe despite many a storm and many a scam in capital markets. His credibility and reputation have increased by leaps and bounds over the years. He opined that Indian capital markets are in a sweet spot as they are witnessing a structured and secular bull run where in every high and every low is higher than that witnessed the previous year. He cited a number of Growth Enablers as being the fundamental reason behind the robust performance of the country's capital markets. These ranged from cultural reasons like savings oriented middle class, to demographic wherein 54% of the country's population is in an age group less than 25 years. A well-developed entrepreneurial class, and a resilient economy with minimal boom-bust cycles are all testimony to the strength of Indian Markets. Liberalization leading to enhanced customer focus; efficient allocation of capital and the Government taking up a role of facilitator is what has contributed to this prosperity. To further his point, he cited the case of an ever-falling interest rate that has made infrastructure projects viable, improved Government finances by lowering deficits and increasing maturities, encouraged capital spending, besides of-course enhancing corporate profitability. In a humorous take on Corruption, he said that though widespread its not all that bad since its mostly Collaborative in nature and not Extractive as is the case with most other countries. The best part of the current happenings is that Change has not been thrust down India's throat but through churn of opinions and there is no reason to doubt its long-term viability. He concluded by advising eager investors not to jump headlong but instead observe the capital markets before taking the plunge. One should not carry an attitude of Know-all but instead realize that the market is supreme. It's like the typical woman who has to be accepted, understood and followed and not confronted. Click here to post your views/ comments/ experince on this... Contributed by - |
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