From the Wizards of Dalal Street CD (Courtesy: CNBC)
Personal Profile: RJ is a Chartered Accountant.He married in 1987.He has a daughter.He lives in Malabar Hill.
He started investing in 1989.He persuaded a lady who was getting 10% interest in bank deposits.He said that he will give her 18% interest.She asked for security.He replied he will be able to give within 15 days.So finally,he managed to get Rs.2.5 lakhs from the lady.
In 1989, he bought 500 shares of Tata Power at Rs.150 bcoz yeild was higher than interest and benefit of Electricity Act. He made money in the stock.Then one of his friend introduced him to Sesa Goa. He bought 2.5 lakh shares at Rs.27 and then another 2.5 lakh shares at 36-37, which he sold it off at Rs.65.
On 1992 budget day,he went long,at the same time he was short on certain scrips.He doubled his positions after the budget.Everyone was bearish except RJ. He sold ACC at 3500 which went all the way till 10,000..thats where he realised that psychology plays an important role in investing.
He sold 80% of the IT stocks at the peak in 2000!!!!
He believes in Diversification within concentration.He increase his holdings after reviewing the situation.
He is influenced most by Dr.Marc Faber,Buffet. He says the investing qualities are similar to that of Faber.
When asked about the value of his portfolio holdings,he said," If you can count the money you have,you dont have enough"
Investing is the most interesting profession in the world.The thought process,breadth of knowledge,etc make investing an interesting profession.
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