If you avoid speculation & leverage, even God cannot sink you! Activity in portfolio not a friend of wealth creation: Raamdeo Agrawal

economictimes.indiatimes.com:

Raamdeo Agrawal, Chairman & Co-Founder, Motilal Oswal Group, says there is no quick and easy money in the market. There is a very patient money and there are tonnes of it. But it is not quick money. If you want to turn your Rs 1 crore into Rs 10 crore in 10 years, it is possible. But if you want to turn Rs 1 crore to Rs 2 crore in the next year, that is very tough. You might even lose your 1 crore.

Buffett has given a template to the world. Buy a good business run by a decent manager at a fair price. Let us take Raamdeo Agrawal’s portfolio versus Rakesh Jhunjhunwala’s portfolio versus Nemish Shah's portfolio versus Prashant Jain’s portfolio – the big investors. All of them endorse Buffett’s philosophy. But there is nothing in common as far as selection of stocks is concerned.
Raamdeo Agrawal: Of course. There are so many good companies. So, everybody approaches good stock portfolios. If there are 100 good stocks, some 20-25 will go to Rakesh, another 25 will go to Nemish bhai, and some 15-20 will come to me or like that. It will get distributed. Some overlap is always there.

What appears good in your eyes, may not appear so to others. I may have differing views on what Rakesh is considering a good stock. I may not be able to align the kind of research he has done because I have not done the research he has done. So, the context is very different. And many times one fundamentally differs from Rakesh’s thought process due to how he was able to see the future. So one has to be ahead of the curve to be a successful