The tragic news was revealed in a tweet by Rajeev Thakkar, fund manager with PPFAS Mutual Fund.
It is with deep regret that I announce the demise of our founder and mentor @paragparikh in a road crash.
— Rajeev Thakkar (@RajeevThakkar) May 3, 2015
Details of the road accident have been revealed in a news item in Omaha.com.
(Image Credit: Omaha.com)
Parag Parikh, 61, his wife, Geeta Parikh, 59, Rajeev Thakkar, 42, and Raunak Onkar, 29, were travelling in a blue Volkswagen Jetta (2014 make). The car was driven by Rajeev Thakkar. Parag Parikh and Geeta Parikh were seated in the back.
The Jetta was eastbound on Shirley Street when it stopped at a stop sign at 63rd. Believing the way was clear, Thakkar accelerated into the intersection. Its passenger side was struck by a 2011 Chevrolet Silverado pickup driven by Daniel R. Vacek, 63, of Omaha about 6:45 a.m. at 63rd and Shirley Streets.
The Jetta crashed into a house while the Chevrolet crashed into an electricity pole.
Rajeev Thakkar and Raunak Onkar appear to have been saved by the airbags. However, Parag Parikh passed away. Geeta Parikh is hospitalized in a critical condition with head and chest injuries.
Other ace stock pickers took to twitter to express their condolences at the tragic demise of Parag Parikh.
“Sad & shocked 2 hear abt sudden demise of @paragparikh. May his soul rest in peace&may God give strength to family” Ashish Chugh tweeted.
“RIP @paragparikh – really sad and shocking; I will miss you!” Porinju Veliyath said.
“Very sad to hear sudden demise of @paragparikh sir 🙁 may his soul rest in peace &God give strength to Parikh family” Jatin Khemani said.
“oh no! He was a great friend. I will miss him. My his soul rest in peace.” Prof Sanjay Bakshi lamented.
Rajeev Thakkar showed immense strength during the crises: “All of us @PPFAS are mourning but we are strong. With the support of @npparikh6 and @sahilparikh we will take his vision forward.” He promised.
RIP for the wizard…I am one of the active member investing Sip way in his PPFAs fund…
OMG really sad and shocking, Prayers for the Parikh Family, May his soul Rest In Peace, God gives Strength to his family.
Very sorry to hear of his demise. I have been an investor with his fund from the beginning and also learned a lot from his value investing sessions and books.
RIP Mr Parikh.
dear parikh sir..may your soul rest in peace…you are one of the inspirations for a trader like me to become a value investor…
Very Sad news. His soul may rest in peace. Investors would really miss him a lot
May is soul RIP…Parag is a brain and his suave, polish, originality in approach will be missed
PS – The mistake seems to be a usual Desi one in a stop sign. really sad end to a glorious career
Its not problem of Desi, just notice the statement in the article Rajiv Thakkar stopped at stop sign, which is correct thing to do. But the pick up van its problem with him he did not stop at stop sign. And definitely the pick-up van might be in too speed to stop and cause of accident. I have noticed in US usually non US person follow the traffic norms strictly compared to us citizen.
True…seems Rajiv followed the rules…issue was the speedy truck not stopped at the stop sign
this is not finger pointing
“stopped at a stop sign at 63rd. Believing the way was clear, Thakkar accelerated into the intersection”
if you read the statement it is clear that Rajeev jumped the traffic signal ‘Believing the way was clear’.
i am just trying to defend the old man in that pickup who is being blamed for crashing even though he did not violate any traffic rule.
‘I have noticed in US usually non US person follow the traffic norms strictly compared to US citizen.’ now that’s being jingoist.
On the argument about the Chevrolet speed, at what speed should one drive when your on a intersection with green light?
Parag Parikh was a religious follower of chandrakantbhai Sampat, who also very recently passed away and what a adeau was given by PP to CS, I think the same adeau with more value addition befits PP, who was also a great proponent of long term investment like CS. Salute sir to your hard core research, analysis and vision for finding good multibaggers as they say. RIP.
Very sad news, may his soul rest in peace and pray to god to give enough courage to his family for such unforseen and untimely loss. He would continue to live with us via his books written.
May the soul of Parag Parikh Rest in Peace, May God give his family the strength the bear his loss. We will miss you Parag.
We miss the great ace picker. May the soul of Parag Parikh Rest in Peace………
Extremely sad and shocking news. Have learnt a lot from you Sir. May your soul rest in peace.
Really sad news for an Investor…May god give strength to his family and My blessings are with his wife….Please god save her and give her strength…
Really great value Stock picker and We will all miss him for ever. Shocking and unbelievable news. For a moment, My heart got struck and took some time to come back. Because of him, I have stopped trading and started focusing for value investing on long term basis thro’ SIP Since PPFAS Fund NFO.
God some time playing curial act taking good useful people for the Society and leaving looters/anti social elements.
May his soul rest in peace.
Raj
Very sad news and it had to happen before his dream of attending the BH annual event is indeed heart wrenching.
Really sad news, RIP……
till 1990 there was only renowed investor and into mid 90
That wa Parag Parikh
His buy reports with that Buy stamp that time.
early morning today i got whatsup news
was shocked though i donot know /seen/talked
but his action and value investment has made me shock
assure prayer for the soul