Jhunjhunwala says he'll be all cash at some point soon
By Amit Mudgill
NEW DELHI: Ace investor Rakesh Jhunjhunwala on Friday maintained his pledge to work for social cause and said, “At some point, I will be all cash.”
The Big Bull had last year announced plan to donate Rs 5,000 crore, or 25 per cent of his total wealth – whichever is lower – to philanthropy when he turns 60 on July 5, 2020,
“Cash will be better than equity if stocks were overvalued,” he said in an exclusive interview with ETNow.
Jhunjhunwala, whose family’s equity investments are estimated at Rs 10,000 crore, said the timeline on when he would be all in cash is undecided.
The Big Bull, who says he has no emotion for stocks, predicted madness like in the days of Harshad Mehta in 2021-2025, but said he did not see the government doing any ‘blunder’ that can cause its downfall.
The ace investor advised investors to sit back and enjoy the market and “participate at own discretion.”
‘One must broadly examine every opportunity that comes,’ Jhunjhunwala said.
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Via:: Economic Times – Stocks