Ramesh Damani unlike the typical stories of successful investors who come from a humble background was actually from a well-off family.
His father accumulated a lot of wealth himself, from the stock market in India. With these earnings, his parents sent Ramesh Damani for higher studies in the United States.
Senior Damani is known to be in the stock market for around 20 to 30 years.
Ramesh Damani founded the company, Ramesh Damani Finance Private Limited. He has a B. Com degree from HR College in Mumbai and a Master’s from the highly acclaimed California State University.
It is told that initially, he was not interested in the stock business like his father. But destiny knows to play its cards well.
|B.Com in HR College, Mumbai MBA in California State University
|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 attempted many times to convince Ramesh to invest in the stock market but he couldn’t convince him.
So Senior Damani agreed to convince him by a trick. Ramesh’s father sent in $10,000 and challenged his son to invest it.
He further puts up a condition that if the money doubled, it is Ramesh’s money and if the money fails there is no question that should be put up.
But the bet could not be fulfilled. Senior Damani was upset and believed that perhaps, Ramesh Damani was not made for the trading world.
On the contrary, this had a different impact on Ramesh Damani. He thought to himself how a well-qualified MBA from one of the top colleges in the USA, failed in the stock market?
Ramesh Damani In The Bombay Stock Exchange
Ramesh Damani had a Master’s from California State University; so, he was made the BSE member.
Initially, Ramesh wanted to make money through brokerage but he was fascinated with successful businesses and wanted to put money on them in the long run to make huge 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 decided that he would invest for himself as soon as the bear market came in and then he could invest when the market was normal.
Ramesh’s initial investment was in Infosys when it became public. He knew about the success of Infosys because he himself worked as a coder in the United States.
He spent INR 10,000 on both CMC and Infosys. By 1999, his investment had 100x returns.
On the other hand, the liquor business brought Ramesh a handsome amount due to the fact that the entire industry at that time was valued at only around INR 500 crores.
The Investing Technique Of Ramesh Damani
Ramesh Damani uses the Warren Buffett method. Using this method, he invests in companies that are run by a great team and if their management principles are strong.
According to some news reports, Ramesh Damani currently has two stocks and their cumulative value is more than INR 200 crores.
Ramesh Damani Portfolio
|Value in Crores*
|Goldiam International Limited
|Godrej Industries Limited
|Electronics, Real Estate, etc.
If you want to excel in the stock market, you need to learn to analyze it well. Ramesh Damani learned a lot from his mistakes before becoming one of the most successful investors in the country.
Damani says that one should have the right analytical skill, correct knowledge, and a clear understanding of stock trading.
Good investors don’t jump into the world due to luck but are always ready to face losses and risks. The sweetness of profit should be handled with the bitterness of losses.