Yesterday a copy of Invest The Happionaire™ Way (ITHW) was personally given by me to billionaire investor- Rakesh Jhunjhunwala. He is rumoured to have started with Rs. 5000 and today is worth over Rs. 4000 crores. All that wealth has been created by him through the Indian stock markets in a little more than two decades. Quite impressive and something which should motivate all of us to invest in knowledge so that we too can create wealth over a period of time.
It was very interesting meeting him and I must confess that I got to learn a lot. I enjoyed sharing ideas with him on what we both are passionate about- the stock markets and investing. One thing that anybody will notice when they visit his office is that he truly loves knowledge.
His walls have very interesting quotes from various people from all across the world, including Warren Buffett. However they are not limited just to investing, but other things related to life too such as ethics, morals, courage, integrity, intellect and honour.
Investing is about having the right mindset and thought process. In order to succeed like an investor you need to look at the larger picture and should be able to think like an investor. I meet so many people who fail to understand that the most important thing to succeed and create as an investor is not how much money you have, but how much knowledge you have.
You can start with a few billions today, and end up losing all of it if you have not invested in knowledge. Instead you could start with a few hundred or a few thousands and end up making several millions or billions, if you have the knowledge to do so.
I find it very strange when a few people tell me that they don’t like spending on knowledge. But these same people are willing to lose several lakhs by investing just on the basis of rumours and tips. They fail to realize that the few hundreds or thousands that they are spending on knowledge is in fact one of the best investments they can make.
Irrespective of where the markets are headed, knowledge will help them. It is an investment they are making which can be passed on to their children and families. Meeting people, asking questions, traveling, reading books are all a part of investing successfully. Just by investing a few hundreds or thousands once in a way, you will get something which will always be there for life.
When I started investing I didn’t have a lot of money, however I always made it a point to make sure I got as much knowledge as possible from every possible source. I still follow the same principle because it has worked very well for me.
People who create wealth don’t let their life and investments be controlled by where markets are headed. They take control of it with the power of knowledge. I hope all of you do the same too, and who knows maybe several years from now you could be another billionaire like Rakesh Jhunjhunwala.
Happy Wealth Creation!