Radhakishan Damani came from a financial background, his father was a stock market sub-broker.He was born to Shivkishanji Damani in a Marwari family in Bikaner, Rajasthan.
At the age of 32, his father unexpectedly passed away and he (reluctantly) joined the business with his elder brother.
But a string of big losses led to Radhakishan Damani exiting trading and setting up his own nuts & bolts business.
Eventually, Radhakishan Damani becomes bored with the business and he returned to stock trading the only difference is that this time Radhakishan Damani cracks it.
Then, like most successful traders (you got to do something with all that money) he diversifies into business investments.
Radhakishan Damani founded D-Mart which is currently one of India’s most profitable retail chain. Radhakishan Damani likes to keep a low profile, he is described as extremely media-shy so not much is known of him.
Radhakishan Damani is a well-known trader/investor on the Bombay Stock Exchange (BSE) and with a net worth 9.6 billion USD (2018 Forbes) he is by far India’s most successful stock market investor
Radhakishan Damani’s initial investment style is short-term speculative in a short time frame. Radhakishan Damani most likely uses leveraged investing to maximize his profits.
Radhakishan Damani is also a long-term investor in various retail businesses and he has a diversified portfolio of investments.
Radhakishan Damani is also a long-term investor in various retail businesses and he has a diversified portfolio of investments
Radhakishan Damani’s trading style during his period working with his elder brother in the business was described as “playing the lottery”.
Radhakishan Damani’s second attempt suggests that he changed his mind about trading and he decided to take trading more seriously second time around. He either learned from his mistakes, or he got schooled on the technical side of trading (which takes the emotions out of trading), or he got mentored by a successful trader, or perhaps it was all three.
Because Radhakishan Damaniis extremely media-shy we don’t know what worked for him. However, what is clear is that Radhakishan Damani’s journey to wealth follows a familiar pattern. A string of failures, then a learning phase. He then perseveres with trading for a second time and he cracks it.
Radhakishan Damani then reinvests his sizeable trading profits in real businesses and his wealth grows exponentially.
The chart below illustrates the percentage of assets held by people of varying degrees of wealth.
Notice that at the top of the wealth pyramid the wealthiest have the largest percentage of their wealth invested in business interests whilst the `poorest have very little or no percentage of their wealth invested. This indicates that investing (not just saving and bury it in the garden) is a vehicle for wealth, independence and maybe happiness too.
We observe our customers and plan for them” – Neville Noronha (managing director and chief executive officer at Avenue Supermarts)
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