Unlike the conventional stories of great investors who come from a poor household, Ramesh Damani came from a wealthy family.
His father amassed a substantial fortune through the Indian stock market. Ramesh Damani’s parents used these funds to send him to the United States for further education.
Senior Damani is said to have spent 20 to 30 years in the stock market.
Ramesh Damani Finance Private Limited was formed by Ramesh Damani. He holds a bachelor’s degree in commerce from HR College in Mumbai and a master’s degree from the prestigious California State University.
According to legend, he was not initially engaged in the stock market like his father. But fate knows how to play its cards.
|Education||B.Com in HR College, Mumbai MBA in California State University|
|Founded||Ramesh S Damani Finance Pvt Limited|
|Ramesh Damani Net Worth||> INR 200 Crores|
Ramesh’s first Investment in the Stock Market
Ramesh Damani had no siblings. His father wanted Ramesh Damani to return to India so that he can be in close proximity and also convince his son to invest in the stock markets.
Ramesh’s father tried several times to persuade him to invest in the stock market, but he was unsuccessful.
So Senior Damani agreed to use a trick to persuade him. Ramesh’s father made a $10,000 investment challenge to his son.
He also stipulates that if the money doubles, it will be Ramesh’s money, and if the money fails, there will be no question.
However, the wager was not successful. Senior Damani was irritated, believing that Ramesh Damani was not cut out for trading.
Ramesh Damani, on the other hand, was affected differently. He pondered how a well-qualified MBA from one of America’s finest universities could have failed in the stock market.
Ramesh Damani In the Bombay Stock Exchange
Ramesh Damani, who holds a master’s degree from California State University, was appointed to the BSE.
Initially, Ramesh intended to generate money through brokerage, but he was enamored with great businesses and desired to invest in them in the long run in order to reap big profits.
In 1889-90 the period of Harshad Mehta scam, Ramesh made huge profits for his client but he earned only on the return of 1%.
Ramesh then made the decision to invest for himself as soon as the bear market began, and then again when the market returned to normal.
When Infosys went public, Ramesh made his first investment. Because he worked as a coder in the United States, he was aware of Infosys’ achievements.
Both CMC and Infosys cost him INR 10,000. His investment had returned 100 times by 1999.
The liquor company, on the other hand, paid off handsomely for Ramesh because the entire industry was valued at roughly INR 500 crores at the time.
The Investing Technique of Ramesh Damani
Ramesh Damani employs Warren Buffett’s strategy. He invests in firms that are led by a terrific team and have solid management principles using this strategy.
According to news reports, Ramesh Damani now owns two stocks with a combined worth of about INR 200 crores.
Ramesh Damani Portfolio
|Stock*||Value in Crores*||Quantity *||Industry*|
|Goldiam International Limited||199||4,904,640||Luxury Jewelry|
|Godrej Industries Limited||4.7||300,000||Electronics, Real Estate, etc.|
If you want to succeed in the stock market, you must master the art of stock market analysis. Ramesh Damani learned a lot from his blunders on his way to becoming one of the country’s most successful investors.
Damani claims that stock trading requires the necessary analytical skills, precise knowledge, and a clear comprehension.
Good investors do not enter the world by chance, but are constantly prepared to lose money and take risks. The bitterness of losses should be balanced with the honey of profit.