Mourning the death of top investor Rakesh Jhunjhunwala this morning, ace stock picker and money manager Sunil Singhania said he was called “bhaiya” on Dalal Street for a reason. “He was like an elder brother to hundreds and thousands of learners like me, always there to help, bless and give real advice. He was the one who actually taught us that we have to be positive about India in the present and in the future,” Singhania said.
Recalling their interactions, he said Jhunjhunwala, fondly called the “Big Bull”, never came across as someone who would give you the impression of being a know-it-all. “Even during discussions, he was always there to learn. But one thing that I would always remember is that when I was just starting about my new venture and I went to seek his blessings, he said that if you are confident in yourself and you are investing in India then sky is the limit,” Singhania, who runs Abakkus PMS, told ET Now.
Describing Jhunjhunwala as a perpetual learner, Singhania said Jhunjhunwala has encouraged millions of investors. “He always used to say that equity will always give higher returns. You have to believe in India as a story, you have to ensure that your systematic investment plans continuously keep on coming.”
The late trader-cum-investor had been emphasising on how the domestic flows are going to increase in the market. “Here was a voice that would come and give solace during challenging times. You need someone who can give you the confidence to stay invested. Hats off to him. He was the pillar of growth of the equity cult in India, along with a few others,” he said.
Jhunjhunwala, who died in Mumbai following a cardiac arrest, was fond of saying at public interactions that “the mother of all bull markets is coming”.
Following diabetes, kidney and heart-related ailments, he was not keeping well for the last few months and was under treatment at Breach Candy Hospital in Mumbai where had recently undergone dialysis and angioplasty.
(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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