2007
Japanese housewives have ditched their traditional subservient image for the world of currency trading – influencing both international markets and Japan’s economy. Japanese women are finding better returns then their male counterparts in due to their emotional controls over the two evils that prevails: fear and greed.
Where the Government of Japan used to spend billions of dollars intervening in currency markets and fighting the prevailing tide to deflate the yen and help exporters, it now has thousands of Mrs Tanakas doing the same thing out of choice. It was this statement that shocked me from the article:
One of FXOnline’s customers is Yoshie Akai, a 70-year-old grandmother from Kobe who has been an avid trader of forex for three years. She woke last Friday morning to find that she had lost about 8 million yen (£33,000) overnight. With more sangfroid than the most ruthless Wall Street dealing-room shark, she was trading again by mid-morning. “I was depressed in the morning. But if I leave this as it is, I will just be a loser. I’ll recover from this disaster,†she says. “I used to know when to buy. Now I’ve learnt the hard way when you should sell. You get a different sense of reality and risk when it is just numbers on a computer, not a bundle of notes sitting in front of me.â€
The article written by the London Times’ newspaper can be found here and I highly recommend a read.
Moreover, a further video provided by CNN depicts the traditional home-based Japanese housewives as the new power currency traders and are becoming a phenomenon in Japan’s foreign exchange market. The interesting video can be found here.
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