Gambling addiction. But you could ask lots of industrial leaders, why they still do what they do. Gives their lives meaning.
They have mastered discipline and unlike most traders in the US (from what I've seen in media), they don't start spending the money on stupid toys and partying. Didn't CIS still eat cup noodles for lunch? In US the standard seems to be buying a large house, sports cars and lavish travel...
This is true. There is a definite correlation between psychopathic/narcissistic traits and extreme levels of achievement, whether you're talking politicians, business executives, business owners, traders, athletes, etc.
I doubt it was a day trader considering the article refers to him as an "investor" in contrast to the tile that uses the word "day trader". https://www.bloomberg.com/news/arti...rader-dumps-japan-stocks-amid-75-million-loss Thus, if true he's just some rich investor like any other rich investor...many investors have lost millions of dollars due to the Covid-19. He refers to himself as a 27-year investment veteran that use to work for funds as an institutional manager (investor). Thus, not sure why he's label as a day trader or that the investment positions were viewed as day trades. Edit: Just discover why he's label in error as a day trader. His investment stakes are highly followed by day traders looking for something to day trade that has momentum. wrbtrader
That Bloomberg or any other media says it doesn't make it a fact. .. 3) Somebody who trades their own money ONLY, does NOT say " .... Yamada told Bloomberg News, revealing that he manages about 45 billion yen in total." "His assets" meaning the assets he manages. Some of which no doubt are his own. Also if it was his money only, he would said he lost 20% of ... "his net worth". 4) Again how Bloomberg insinuates something that they most likely are ignorant about does not make it a fact either. Believe what you want. It fits the narrative the reporters are spinning and Asian stereotypes cast about in this topic. BTW I believe Bloomberg is typical one of the best in business journalism of not too many good ones anymore.
I don't know, they waste money on a lot of stupid shit in Japan as well. I mean how much do they spend on Hello Kitty alone every year
Or how about their key stock market indices topping out decades ago never to have set new highs while the rest of the world did. And first G8, G20, Gwhatever nation to use ZIRP.