These days everyone, their grandma and their pet goldfish is into stocks.
It really is quite a marvel of modernity that the word “Gamestop” became public colloquialism in the span of a few weeks. We may not have exercised our diamond hands but the euphoria was certainly palpable. It was all anyone could talk about for a month.
“What did you do this weekend?”
“Nothing much, watched a couple of episodes of Queen’s Gambit on Netflix. You?”
“Yeah pretty much the same. Oh but hey did you see what’s up with the whole Gamestop thing?”
“Oh man, don’t tell me you bought it 😏”
“Hahaha yeah, I mean hey it was $76 yesterday, it’s like fricking $147 today!”
“Diamond hands man, diamond hands 💎 🙌 ”
Well, while the Internet has r/WallstreetBets, a crafty bunch in Tokyo have debuted a bar where retail traders can trade stock picks.
The bar in question, highly literal in its chosen name, Stock Pickers, was started by a Satoshi Uehara, in early March of 2021, on the back of a funding campaign that raised $50,000. In true trader lingo, the fundraising was 6x oversubscribed.
Since its opening in March, it has been booked out everyday. Guess you could say volumes were above average? Haha
"My stock picks brings all the boys (and girls) to the yard. And they're like, it's better than yours." (Image Source: Bloomberg)
Much of the draw is the man who started the speakeasy himself, Uehara, who has himself amassed a legion of followers on Twitter for his FinTweets on personal finance, stock investing and putting some sense to the frenzied financial markets.
Obviously the cocktails are going to be investing-themed. Left to right: "Abenomics", "Lehman Shock" and "Margin Call" (very appropriately a red skull). Now where's the "Can't Our Markets Have Standard Opening Hours?".
(Image Source: You guessed it, Bloomberg)
Of course, the goal is not simply for Uehara to do all the heavylifting, the hope is that traders of all walks of life can come together and bond and find community (psst…which is what we’re all about here at 88 Bamboo).
All it's missing are some Bloomberg Terminals. (Image Source: Bloomberg)
Unlike other neighbouring watering holes, Stock Pickers’ decor comprises not of empty bottles and posters, but of investing related books and other investing-related tokens, because what else would fit the theme right? (Though I do wonder how any reading can be done in the dark and on alcohol, but who knows? Inspiration hits at any time.)
Supposedly, one can spot a stylized cannon symbolizing the “bazooka” of central bank asset purchases, a nod to the Bank of Japan’s one trick pony. This is accompanied by the text “Don’t fight the Nippon Ginko (Bank of Japan)”.
Take it from me, this is true.
The first rule of investing is: You don’t fight the Central Bank.
The second rule of investing is: You don’t fight the Central Bank.
Story first appeared on Bloomberg.
All rights belong to their respective owners. I do not own any of this content.
For those not in Tokyo, you can take a look at the bar interactively below.