The Long-Term Thinking Behind One of India’s Greatest Investors | Paisa Vaisa | Anupam Gupta

·53 min·5 clips

Rakesh Jhunjhunwala's brother secured 25 lakhs from a high-net-worth lady and Mr. Mendoza, who trusted him without taking collateral.

The episode begins with Anupam Gupta introducing Nandini Vijayaraghavan, who has a career in financial services and writes business nonfiction books. Vijayaraghavan discusses her book on Rakesh Jhunjhunwala, emphasizing it's not just about stock picking but the story of India's post-liberalization capital markets. She explains Jhunjhunwala's background, noting he won the 'demographic lottery' as a male born in 1960 in a Marwari family in South Mumbai, near Dalal Street. His start involved 5,000 rupees from a small business and 25 lakhs borrowed by his brother from clients, with one lender, Mr. Mendoza, trusting him without collateral. Vijayaraghavan highlights Jhunjhunwala's key strengths: knowledge and network, which remain crucial today. She walks through his major investments, such as Titan, where he bought shares at Rs. 35 after a six-hour meeting with Bhaskar Bhatt, and Crisil, which he called a 'cash machine'. The discussion includes his mistakes with companies like A2Z and Bilcare, where he misjudged promoters. After a break, Vijayaraghavan outlines Jhunjhunwala's five investing metrics: people, patience, technology, frugality, and governance. She describes how he impacted company managements, such as by joining boards or dispatching analysts for deep dives. The episode concludes with portfolio numbers—from 25.05 lakhs to over 50,000 crores at his death, now 67,000 crores—and key lessons: set personal life in order, have a vision, be realistic, and manage risks. Vijayaraghavan also shares her future book plans and book recommendations for investors.

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