Looks like he is all stressed out from all of the money that he lost. I hope he doesn`t do anything stupid like committing suicide or something like that.
One's man pain is another man's pleasure! Somebody take my picture as I am filling out my kokusai kawase (international postal money order) at the post office! I have a huge smile and my "V" hand sign is really cute! Go, go, Yen!
I feel his pain. A couple years ago, I got suckered into a leveraged carry trade off shore real estate deal by some shifty gaijin financial advisors. All was good when the Yen was dropping. Once it started to turn, the bank started margin calls and cleaned me out. Looking at the exchange rates made me sick.
To all of those being gleeful about the strength of the Yen: PLEASE be a little more far-sighted - I'm paid in Yen, but when it is killing off your clients slowly, you can see it very much as a double-edged sword.
If you're an English teacher or hostess just dropping in for a year or two to make some Yen, then I guess you have no reason to care about the health of Japan's economy as long as the money keeps coming.
But for those of us whose clients trade overseas, or whose friends simply cannot afford to come to Japan because of the unreasonably high Yen, or who are committing their future to this country, this is really bad news indeed. Japanese trade will shrink, industrial production will fall and imported goods will get cheaper. The economy will continue to stagnate and it will basically cause a lot of pain, cost cutting and lost jobs. Ultimately everything will get worse the longer this goes on.
I suggest you are a little more thoughful, and appreciate that your good fortune has a flip side for other people.
how do you guys know he is stressed out? maybe he's just working long hours and is tired or the computer screens causing him dry-eye, headaches, etc...who knows.
In the last few years many institutional investors borrowed yen at very cheap interest rates, used it to invest in other countries where the returns were higher. Today, with the financial crisis, the stock market is down, returns are less due to lowering of base rates, investments looking more risky, the need for cash is high to cover write downs. Therefore a lot of these loans are being repayed. In order to repay they need to buy yen, so due to high demand the yen has appreciated.
greedy people gambling with others' money rather than doing something useful
Ummmm...no.
Speaking as an amateur FX trader, I think that this would be an ideal way to fill your pensions while you're out here teaching at a job with dubious pension benefits. It is by no means a sure thing, but then, neither was the housing market in 2008.
You can trade anywhere there's a relatively fast connection and the market runs for 24 hours a day, from Monday morning in Japan to Friday afternoon in New York.
And a lot of us are gambling with our OWN money, thank you.
29 Comments
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alladin
Looks like he is all stressed out from all of the money that he lost. I hope he doesn`t do anything stupid like committing suicide or something like that.
some14some
Good morning, wake up call to FX dealers...YEN is strengthening further !
stereoman
God, the media love to use photos of the stressed-out trader. I don't think he is the one who is really hurting when the economy is crap.
noborito
he is still making his commissions.
alladin
What commission?? He probably lost it all as the markets closed.
susano
greedy people gambling with others money rather than doing something useful
kansaifun
One's man pain is another man's pleasure! Somebody take my picture as I am filling out my kokusai kawase (international postal money order) at the post office! I have a huge smile and my "V" hand sign is really cute! Go, go, Yen!
koiwaicoffee
Pretty much this..
thepro
He's saying: 'Oh lawdy, endaka!'
tokyokawasaki
This rate 85~ish Yen to the dollar is killing me... I am paid in dollars and I have have to convert every month into Yen. Ouch with a capital O....
cactusJack
That room should be illuminated with bright blue lighting.
2020hindsight
susano
How do you know he is gambling? And it is something useful! What would the world be like if you couldn't exchange between currencies?
Klein2
I guess he is short the yen. Ooops. Don't guess it, straddle it!
whiskeysour
83.0 yesterday 73.0yen tomorrow. Joy joy joy !!!!
nath
Poor soul. Computers are tough on the eyes, whatever they read!
L4dymercury
I understand ya, bro. I completely understand ya.
looks at exchange rate and cries
Lunchbox
inai inai ... baaa!!
sugamosumo
short the dollar!! nice rate today...
genjuro
Cool composition. In between the two countries' flags/currencies.
Mittsu
Unbelievable how the yen just gets stronger. eventually this has to give. especially with the great state of Japanese government and mounting debt.
porter
I feel his pain. A couple years ago, I got suckered into a leveraged carry trade off shore real estate deal by some shifty gaijin financial advisors. All was good when the Yen was dropping. Once it started to turn, the bank started margin calls and cleaned me out. Looking at the exchange rates made me sick.
frontandcentre
To all of those being gleeful about the strength of the Yen: PLEASE be a little more far-sighted - I'm paid in Yen, but when it is killing off your clients slowly, you can see it very much as a double-edged sword.
If you're an English teacher or hostess just dropping in for a year or two to make some Yen, then I guess you have no reason to care about the health of Japan's economy as long as the money keeps coming.
But for those of us whose clients trade overseas, or whose friends simply cannot afford to come to Japan because of the unreasonably high Yen, or who are committing their future to this country, this is really bad news indeed. Japanese trade will shrink, industrial production will fall and imported goods will get cheaper. The economy will continue to stagnate and it will basically cause a lot of pain, cost cutting and lost jobs. Ultimately everything will get worse the longer this goes on.
I suggest you are a little more thoughful, and appreciate that your good fortune has a flip side for other people.
FnC
nisegaijin
most uneducated and ignorant comment I've seen all day. Do you know ANYTHING about finance? How about getting a book and stop embarrasing yourself.
Very well taken picture, btw. I didn't know trading floors allow cameras though :-)
sugamosumo
how do you guys know he is stressed out? maybe he's just working long hours and is tired or the computer screens causing him dry-eye, headaches, etc...who knows.
kyushujoe
Maybe he's a Scotland fan! (football reference)
GylainSonny
The man lost something...
sam1633
During the Korean War I spent a tour on Itazuki Air Base when the Yen was 360:1. With the Yen at 84:1 seems unreal!!!!
sfjp330
In the last few years many institutional investors borrowed yen at very cheap interest rates, used it to invest in other countries where the returns were higher. Today, with the financial crisis, the stock market is down, returns are less due to lowering of base rates, investments looking more risky, the need for cash is high to cover write downs. Therefore a lot of these loans are being repayed. In order to repay they need to buy yen, so due to high demand the yen has appreciated.
blunderbuss
Ummmm...no.
Speaking as an amateur FX trader, I think that this would be an ideal way to fill your pensions while you're out here teaching at a job with dubious pension benefits. It is by no means a sure thing, but then, neither was the housing market in 2008.
You can trade anywhere there's a relatively fast connection and the market runs for 24 hours a day, from Monday morning in Japan to Friday afternoon in New York.
And a lot of us are gambling with our OWN money, thank you.