Rakesh Jhunjhunwala was idol of common investors, say Mumbaikars

Mumbaikars expressed shock over the passing away of ace investor Rakesh Jhunjhunwala, often referred to as India's Warren Buffet, with some describing him as an idol for the common investor.

The 62-year-old Jhunjhunwala passed away on Sunday morning in Mumbai.

Rakesh Jhunjhunwala was an idol of common investors. He started his journey from Rs 5,000 and went on to become a multi-billionaire, said Mandar Karve.

Earlier, the investors assumed that the stock market was akin to betting, but he proved them wrong by investing on the basis of thorough study of the market after watching news channels and newspapers, said Karve, a small-time investor.

Jhunjhunwala was an excellent example for the common man, who invests some of his hard-earned money in the share market, he said.

Ravindra Bhange, a photographer, said he watched Jhunjhunwala's tips while investing in particular shares. I was eager to know if he had invested in those shares, Bhange said.

Jhunjhunwala actually taught small investors where to invest their money and how to keep it growing, said Bhange. His choice of picking up shares helped me to increase my investment, he added.