A Dose of Rakesh Jhunjhunwala

Rakesh Jhunjhunwala on Future of Equity Market

Methinks every Indian Equity Investor needs a dose of Rakesh Jhunjhunwala (RJ) every few years! ~ any sooner it could be an Overdose !  😆 ~ just kidding !

I like the guy ! ~ right since I interacted with him when I invited him around 15 years ago at the turn of this century for interacting in an evening  Q & A session with my packed class of @ 90 participants in my Equity Portfolio Structuring and Stock Analysis Workshop at the BSE Training Institute as I thought he would add practical value & he did

“Boss ! I’m a Sadak Chaap ! ”  he had told us then as also how he had reconstructed his equity portfolio to concentrate only in a few stocks after the 2000 ICE debacle…so in a sense most of his Wealth has grown only in this Millennium in the past 15 years ~ and to his credit in Selections that were not really Blue Chip or Core

Yesterday had gone for an  IMC interactive meet in Mumbai to check out if RJ has sobered & matured in his ‘manner of speak’ over the years ~ I rarely watch Stock Channels ~ don’t even have a TV in office~  so was not really conversant with how & what he delivered in his appearances though knew of his initiating big stakes in companies

I am delighted to blog he has not changed ! ~ shot straight from the hip & mouth again as he always does ” I’m a satodia(translated to mean speculator)  & investor & not an economist” ~ his investment portfolio has spread into the Alternatives of  Bollywood Movie Production too with Kareena & Arjun starrer ‘Ki & Ka’ being his latest co production~ is into horse racing too and owns a few horses ~ passions perhaps where return on investments need not be measured in monies !?

Many perceive him as Dehati or Crude Dude for his rustic loud boorish way of speech~ but don’t let it fool you ! & he does not make any pretenses ~ he’s a CA by training & wears a fairly sharp mind

Money Talks & Crowd Laps it up all !~ many vigorously & ‘knowledgeably’ nodding in agreement

These RJ’s views & responses to questions posed should interest you :

On The Future of Equity Markets ~ Reiterates this is only the Trailer & we are going to witness a Mother of all Bull Runs.India is a thriving young Democracy with US $ 600 b in Savings every year.Equity Markets receive just US $ 50 b from this.This has to improve and it will ~ anyone ,any  doubt!?   

On Returns from Equity  ~ Ironically while his riches have been through multibagger 1000% + equity gains in concentrated high weightage stocks like Titan & Crisil he asserts that one should be happy with 18% CAGR gains and if it goes to 24% one should be really happy read more

Wow ! Brian Chesky of Airbnb on what it took & takes !

Wow ! Brian Chesky of Airbnb on what it took & takes !

A Class in Stanford recently that  was an interview by Reid Hoffman of Brian Chesky — the founder and CEO of Airbnb.

Airbnb Founder Brian Chesky in conversation

 

Inspiring Takeaways from this Interview in a Class at Stanford

A number of people have told me that Airbnb is the worst idea that has ever worked

Before Airbnb I was different than most tech founders because I went to art school at the Rhode Island School of Design (RISD) and studied industrial design.

My parents were both social workers and when I told them I was going to art school they were sure I was going to move back home. My parents always told me if I got a job I should make sure I got one with health insurance. That was the extent of my perceived ambitions.

 However at RISD they told you because you were a designer, you could change things — that I could go out and do and change anything I wanted to do.

After school I got a job and one of my college friends Joe Gebbia kept trying to convince me to leave my job and move to San Francisco to do a startup. We had no idea what we wanted to do but we knew we wanted to do something. When I told my roommates I was leaving they thought I was crazy and needed an intervention.

At the time, I had $1,000 in my bank account and I drove to SF, this was in 2007. Upon arriving to San Francisco I had learned my portion of rent for the place we had was $1,200 so I literally didn’t have enough to pay rent. 

we had no money — so what if we created a bed and breakfast for the design conference. The problem with this idea was we didn’t have any beds — however we did have 3 inflatable air beds. This is where we came up with the name “Air bed and breakfast” and our first site wasairbedandbreakfast.com.

The core idea was — what if you could book someone’s home just like you could book a hotel room, anywhere in the world.

We didn’t have this flash of inspiration that Air bed and breakfast was going to be huge. In fact we started building a different product — a roommate search tool. We worked on this for 4 months and then realized “roommates.com” had already built this service. I couldn’t believe how much time we wasted on this before checking the URL roommates.com

I learned that being an entrepreneur and being unemployed is just a difference in mindset

One thing I learned is, big ideas sound stupid in the beginning. I’ve always heard that if your idea is any good there is no problem with sharing it because people will dismiss it. Many ideas come from solving your own problem which aren’t life changing problems — but these ideas could potentially become life changing ideas. read more