India's Warren Buffet.

The name Warren buffet is practically synonymous with his biggest success in the stock market.
For our motherland India there is a person who is similar to Warren buffet in the platform of stock market.

Ranking as the 53st richest person in India and 937th richest individual in the world, with a fortune valued at USD 2.4 billion, is Rakesh Jhunjhunwala. A famous and well respected equities investor, Forbes has dubbed Jhunjhunwala, "India's Warren Buffett."

Rakesh Jhunjhunwala was born on 5th July 1960. He father was an Income tax officer. His father was interested in stocks and used to discuss the stock market with his friends. Rakesh as a child would listen to them. Once he asked his father why the price fluctuate. He told him to check the news, it makes the price to fluctuates. This was his first lesson of stocks market. He got fascinated by stocks and found it interesting. He expressed his wish to get into the stock market to his father. He told him to do whatever he wanted in life but at least get professionally qualified. Rakesh then took up chartered accountancy and completed his CA in 1985.

After completing the CA he told his father that he wanted to go in the stock market. His father reacted by telling not to ask him or any of his friends for money. Earn and trade with your money. He started his career in 1985 when the BSE Sensex was at 150. He made his first big profit of Rs 0.5 million in 1986 when he sold 5,000 shares of Tata Tea at a price of Rs 143 which he had purchased for Rs 43 a share just 3 months prior. Between 1986 and 1989 he earned Rs 20–2.5 million. His first major successful bet was iron mining company Sesa Goa(now Sesa Sterlite). He bought 400,000 shares of Sesa Goa in forward trading, worth Rs 10 million and sold about 2-250,000 shares at Rs 60–65 and another 100,000 at Rs 150–175. The price rose to Rs 2200 and he sold some shares.

Jhunjhunwala bought 6 crore shares of  Titan in 2002-03 at an average price of around Rs 3. The stock is currently trading at 390 Rs level and his investment value is now 2100 crore, which made around 35 lakh per hour for him.  In 2006 he bought lupin around 150 Rs which is now trading at 1100 levels.  He bought crisil around 200-300 levels which is now at 1800. Likewise, there are so many stocks in his portfolio that made huge money for him.

Power of mistakes: Rakesh jhunjhunwala.

Rakesh Jhunjhunwala believes in the power of mistakes. He says it’s the mistakes that made him learn and become a better investor.  he says. “If you don’t believe the markets are supreme, you will never admit that it was your mistake. If you don’t admit that it is your mistake, you will never learn.  To succeed in the stock market, not only is the ability to learn from one’s mistakes vital, he says, but also to blame only oneself for it. “I don’t blame the promoters of companies. I blame myself. The promoter is what he is. I have to recognise that. He is not what I expect him to be.”  Jhunjhunwala says what he has learnt in life is to try and earn money in trading and to invest it in stocks.