Jhunjhunwala's advice to Katrina Kaif: Don't fall for tips, try and own a home

NEW DELHI: The big bull of Dalal Street, Rakesh Jhunjhunwala, has stressed on the need for investors to stick to the basic principles of investing.

In an interview with Bollywood actor Katrina Kaif on the eve of Diwali that marks the start of the traditional Indian accounting year, Jhunjhunwala said retail investors should make it a habit to seek professional advice while investing.

“That can help generate wealth in the long term. You need that even to build a house to ensure a secure future,” he said.

Here's the full interview

RJ, as he is popularly called on Dalal Street, said when investing people tend to take advice from their relatives, friends and even strangers, which is not a healthy practice. “If you have money and are looking to invest, seek professional advice and avoid so-called tips,” he said.

“People like to seek advice from anybody at home, but the need is to take professional advice. If I have fever, I take a Crocin, but my wife calls a doctor,” Jhunjhunwala said.

“Investing is not something that everybody understands. So, take professional advice and plan,” he said.

Jhunjhunwala also stressed on building a house this Samvat. The young generation often does not plan, but having your own house is very important, as it gives a great sense of security, he said.

“Don’t be kanjoos and draw a balance between the present and the future. One advice I can give to every young Indian - the most difficult thing in India – is to own a house,” he said.

"The first thing you should do is try and buy a house, which can give you a great sense of security. But professionalise, manage and take advice whenever necessary,” he said.