While Many Panicked, Japanese Day Trader Made $34 Million
J Thoendell stashed this in Misc
As financial markets got crazy this week, many people turned cautious. Some were paralyzed. Not the 36-year-old day trader known by the Internet handle CIS.
“I do my best work when other people are panicking,” he said in an interview Tuesday, about an hour after winding up the biggest trade of a long career betting on stocks. He asked that his real name not be used because he’s worried about robbery or extortion. To support his claims, he shared online brokerage statements showing his trades second by second.
CIS had been shorting futures on the Nikkei 225 Stock Average since mid-August, wagering it would fall. By the market close on Monday, a paper profit of $13 million was staring him in the face. He kept building the position. When he cashed out late that night, a collapse in New York had caused his profit to double.
Instead of celebrating, he kept trading. He started betting the market had bottomed. When he finally took his winnings off the table on Tuesday, he tweeted, “That’s the end of my epic rebound trade.” His profit, he said, had almost tripled.
And what did he produce for the society gaining this amount of money?
liquidity? insurance? a fun story?
Yes, all three of those things, Jared.
But to Oce's point, nothing of lasting value except perhaps the story.
Will he retire? or can he not resist the game?
doubt it if he has already made over 150 million in previous years.