Rakesh Jhunjhunwala’s Views On IT Stocks, Cryptocurrencies And More
Billionaire investor Rakesh Jhunjhunwala is betting on Indian information technologies stocks as he expects a boom in the coming years as the adoption of technology grows.
The veteran stockpicker spoke to BloombergQuint’s Niraj Shah on a wide range of topics at the Shri Ram Economic Summit 2021, organised by students of the Shri Ram College of Commerce in Delhi.
Here’s what he had to say on IT stocks, his stock-picking mantra, cryptocurrencies and more...
Bullish On IT
“If a country has an advantage in something, so it grows. The more it grows the more it has an advantage in something. So that’s what happened to Indians. The opportunity for tech applications is going through the roof.”
Mantra For Success: Be A Realist
“I don’t think its good to be a bear or a bull all the time. You have to be a chameleon. We’ve got to change as the colours change.”
Reason For Skipping Crypto Party
“These cryptocurrencies fluctuate 20-25% in a day. So you go with a budget to a restaurant. You plan your budget at say 20 crypto-coins and by the time you get there it is 25 crypto-coins.”
Staying Clear Of Startup Investments
“The strike rates are very low. It’s like a lottery. I don’t invest in them, but people have made money and there will be people who make more money. I wish good luck to them.”
Trading Vs Investing Debate
“My personal opinion to people is don’t trade. Out of 10 lakh, 9.99 lakh lose. Trading requires basic defeat of human ego, which very few people have and recognition that markets go on extremes on both sides. And there is nothing logical or reasonable here.”