Rakesh Jhunjhunwala: Only God knows market moves

Legendary Indian investor Rakesh Jhunjhunwala said on 17 February 2022 that market behaviour is ultimately unpredictable and known only to God. Speaking at the CII Real Estate Confluence, he compared markets to weather and risk, stating that no amount of modelling can guarantee certainty. 'You can never predict how market will react. You can model it. You may try to predict it, but weather and markets and risk, only God knows because only he has seen tomorrow,' he said.

Jhunjhunwala, who died in 2022, was known for his long-term bets, notably on Titan Company, and co-founded Akasa Air. In another recorded insight, he advised investors to expect realistic returns, 18% makes you a king, 21% an emperor, and warned against chasing unrealistic gains. He called the market a 'fire' demanding maturity and urged investors to never use family money. He remained optimistic about India's bull run, saying crises create opportunities for disciplined investors.