rakesh jhunjhunwala: Rakesh Jhunjhunwala and Radhakishan Damani, the Jai and Veeru of Dalal Street
Until separated by Jhunjhunwala’s death on Sunday morning, the duo sailed through many ups and downs of the stock market as well as personal lives together.
“You don’t know how close we are. But we stay separately and have no partnerships,” Jhunjhunwala had said in a TV interview a few years ago.
For the ‘Big Bull’, Damani was the ideal friend, philosopher and guide whom he happened to meet one day on the street outside the Bombay Stock Exchange, as BSE was known then, in 1987-88.
“One of the reasons why I say that life is God’s grace and elders blessing for all is because nobody introduced him to Radhakishan Damani. We met on the streets of the Bombay Stock Exchange,” he had said, adding that he treats him as his mentor because he has learnt a lot about markets as well as personal life from the DMart founder.
“For example, he taught me that there is nobody bigger than your parents in your life,” the late investor had said while praising Damani’s patience, views and practical ideas.
About 12 years ago, when Jhunjhunwala had turned 50, the otherwise reclusive Damani was seen in a video saying: “He gives so much respect to me that it puts me in embarrassing situations so many times.”
He had described him as an original thinker who doesn’t get carried away with other people’s thought process.
Jhunjhunwala used to say that he learnt trading from his best friend. “More than intelligence, he has wisdom. Third, he doesn’t teach, you have to learn. Fourth, he has extreme patience and humility.” he had said while describing their relationship as very difficult to define and the one that has never changed despite the stupendous success that both have achieved.
The duo were poles apart in many ways. While Jhunjhunwala was known for erratic temper and outspoken views in media interviews, Damani is still very reclusive and stays away from making public appearances and talking to the media. He is often called “Mr White and White” because of his choice of white shirt and white pants.
During their earlier days when both used to trade actively, they were even seen taking contrasting calls as they fully respected each other’s opinions but followed their own convictions.
