With due respect, nobody thinks they’ll become the next Warren Buffett. Rakesh Jhunjhunwala is an excellent trader, uses crazy levels of leverage and also has invested in some good companies early on. However, he’s nowhere close to Mr. Buffet in terms of wealth. I’m not saying this to undermine Mr. Jhunjhunwala. He will always remain one of the best, if not the best, investor in India. So clearly, even after a lifetime of great investment, we can only hope to be at least 10% as wealthy as Mr. Buffet. Even that is stretching it a little bit.
If you’re suspicious about Warren Buffet’s books, read his Letters to Shareholders. You don’t need anything else. Here’s what he said in one of the letters and follows to this day:
These are things everyone can do, regardless of whether they are minority or majority Shareholders.