I am not afraid of making mistakes. But my mistakes were those that I could afford. That's very important: mistakes will happen but you must ensure that you keep them within limits you can afford.
You can't make money on borrowed knowledge. If following Rakesh Jhunjhunwala was all it took to make money, a lot more people would be rich. It requires patience and you learn from mistakes.
The markets are like a weather; you may not like it but you have to bear it.
I think when markets go up and there is no manipulation in markets and people question the market going up and it keeps going up, that is a true bull market.
Markets may in the short-term correct. But in a bull market the correction is always sharp, swift and short-lived.
You can never predict how market will react. You can model it. You may try to predict it, but weather and markets and risk, only God knows because only he has seen tomorrow.
In commodities, when prices go up, demand goes down. In stocks, when prices go up, demand goes up.
Bull markets have valuation froth and bull markets have commitment forth. Now just by valuation froth, bull markets do not end.
One thing which keeps me apart is that I have got guts. I may have Rs 1,000 in my bank but if I think the deal is worth a crore - I will do it.
The typical conditions for the birth of a bull market are here: you have a changed country, you have a deep fall in growth and everybody is perplexed by the rise of stocks.