Japan has not been growing for the past many years. It saw a stock market bubble in 1980's and has never seen those highs again. It has also gone through a real estate bubble.
The Nikkei, its market Index closed at 12346 today. This is down from a high of 18270 recorded in July 2007, 14 months ago. So, what did the Japanese get right ?
TIME magazine, in its issue dated Sept 15, 2008 writes:
Consider Japan by any standards that count - public safety, widely shared prosperity, quality of infrastructure, health and education indicators, family stability - a remarkably well governed society. Its best companies set standards for innovation and efficiency. .......
What should India become - Japan - which is an ocean of peace and calm, or America - where you get paid hundreds of million to create a sub prime crisis.
What is the difference between Japan and USA ? The difference lies in the importance given to financial wizards. In Japan, the people who build industries, services, businesses are given importance. In the USA, people who create financial wonderlands are the most important of the business leaders. Unfortunately, India seems to be going the US way.
Why is this relevant in a trading blog ?
First, Trading requires a calm mind. The Japanese pursuit of Zen in their lives provides this calmness.
Second, Success in trading requires single minded dedication to the pursuit of excellence. You improve your skills as a trader every day. The money comes when the market wishes to give it to you. This is the Japanese way of life.
Third, all traders are equal. In a Japanese company, there will be only a small difference between salaries of the lowest worker and the highest paid official. All employees are considered equal. In the same way, you - a trader are as good as any other trader in the world. Just do your duty, then leave the fruits of your labor to the almighty.