Nikhil Kamath: The Kamath Brothers are currently the highest paid bosses in India. His salary for the financial year 2019-20 is 100 crores.
India’s highest-paid CEO Nikhil Kamath said that it is not possible to predict the movement of the stock market. On the small number of people investing in the stock market, he said that it is still seen as gambling in our society. He also gave his views on the future of cryptocurrencies. Together he also said that the government was not properly prepared for the new wave of Corona. Let us tell you that Kamath Brothers is currently the highest paid boss in India. His salary for the financial year 2019-20 is 100 crores.
In an exclusive conversation with The Indian Express, Nikhit Kamath, founder of trading platform Zerodha, said that even before Zerodha, internet trading was rampant in India. Share Khan and ICICI Direct were in vogue at that time. We made the brokerage very cheap due to which a large number of retail investors joined us. It has increased further in the last one year, but it should not be forgotten that even now only 1.5 or 2 percent of the population also invest in the stock market. In America, 60-70 percent of people invest money in the market.
Regarding the low interest in trading among people, he says that it is still seen as gambling in India. People still do not see it as a full time job. Regarding the kind of movement being seen in the market, he said that no one knows about what will happen in the market tomorrow. No one can even claim this. If this were the case then those who claim would have been sitting at home and investing there.
Regarding when Zerodha will be public, he said that we have kept all the processes transparent. The company does not have a debt of even a single rupee. In the last 11 years, outside investors have also been given entry. The biggest reason for this is that we do not think as an institution, but as an investor.
Regarding insider trading, he said that it would be very difficult for anyone to do insider trading on the basis of internet trading, discount broking and the way stock market data is publicly available. However, he asked the trading retail investors to stay away from penny stocks and small cap stocks. Insider trading is more likely in these stocks. If you invest or trade in mid-cap and large-cap stocks, be wary of insider trading.
Regarding the future of cryptocurrencies, he said that there is a need for cryptocurrencies like bitcoin. He said that when the government of the whole world prints the currency, its value will decline. Due to this, inflation rate will increase. He gave the example of countries like Zimbabwe and said that the inflation rate there is more than ten thousand percent. There the price of bread is 50 pounds today, so tomorrow it costs 500 pounds. In such a situation, if the price of one bread is fixed at 1 bitcoin and the rate remains the same on a daily basis, then people will accept any such cryptocurrency. I think it is because of these reasons that the popularity of cryptocurrencies has increased. Regarding other aspects, he said that due to cryptocurrencies, governments and central banks around the world are opposing it, because they feel a lack of power.