How the legend #Rakeshjhunjhunwala started his journey. The #Story in his own words⤵️. The journey from 20 lacs to 2.5 crores. #RIP #Omshanti #Thread 🧵#Investing #Stockmarket #Stocks. 1/10 
My father was also interested in #stocks. When I was a young child, he and his friends would drink in the evening & discuss about the #Stockmarket. I would listen to them and one day I asked him why do these prices fluctuate. (2/10)
He told me to check if there is a news item on Gwalior Rayon in the newspaper, and if there was Gwalior Rayon’s price would fluctuate the next day.
I found it very interesting & I got fascinated by #stocks, I self-taught myself. 3/10
I found it very interesting & I got fascinated by #stocks, I self-taught myself. 3/10
My father told me to do whatever I wanted in life but at least get professionally qualified.
I was always a reasonably good student so I took up chartered accountancy. In January 1985, I completed my CA. I told my father I wanted to go to the stock market. (4/10)
I was always a reasonably good student so I took up chartered accountancy. In January 1985, I completed my CA. I told my father I wanted to go to the stock market. (4/10)
My father reacted by telling me not to ask him or any of his friends for money. He, however, told me that I could live in the house in #Mumbai and that if I did not do well in the market I could always earn my livelihood as chartered accountant aka CA. 5/10
This sense of security really drove me in #life.
Between 1986 & 1989 I must have earned Rs 20-25 lakhs. After 1986, the market went into a big depression for 2/3 years but I put that money in Tata Power and the #TataPower stocks became about 1100-1200. (6/10)
Between 1986 & 1989 I must have earned Rs 20-25 lakhs. After 1986, the market went into a big depression for 2/3 years but I put that money in Tata Power and the #TataPower stocks became about 1100-1200. (6/10)
Now I was worth Rs 50-55 lakhs.
#SesaGoa had a big fall because there was a depression in the iron ore industry & then prices for the next year had been considerably raised about 20-25%. The stock was available abysmally cheap around Rs. 25-26. (7/10)
#SesaGoa had a big fall because there was a depression in the iron ore industry & then prices for the next year had been considerably raised about 20-25%. The stock was available abysmally cheap around Rs. 25-26. (7/10)
There was a projection of a very good growth in profitability in the next yr but nobody seemed to believe it.
When I saw the facts, I wanted to #invest but I did not have capital. (8/10)
When I saw the facts, I wanted to #invest but I did not have capital. (8/10)
I bought 4 lakh shares of Sesa Goa in forward trading, worth Rs 1 crore. I sold about 2-2.5 lakh shares at Rs 60-65 and another 1 lakh at Rs 150-175. (9/10)
The prices then went up to Rs 2200 and I sold some #shares. I did some other #trading too. I had net worth of about Rs 2 – 2.5 crore. - Said #RJ the #Legend #AkasaAir #RIPRakeshJhunjhunwala
End of thread.🧵10/10
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End of thread.🧵10/10
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