Following ace investors is a good idea, but don't always ape their bets

Ace investors like Rakesh Jhunjhunwala, Dolly Khanna, Mohnish Pabrai, Porinju Veliyath, etc, enjoy celebrity status within the investor community. Their fans have websites, social media pages and blogs dedicated to them, and their stock picks and portfolios are closely analysed. But following them blindly, without doing your own research, can lead to losses. Each of these celebrity investors has a high stake in certain stocks, known as their ‘darlings’. Last year, a few ace investors invested in Rain Industries. When data on their investments in the April-June quarter appeare.....

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