88-year-old Shigeru Fujimoto, a former pet-shop owner turned trader, built a $14 million fortune over seven decades, with his latest stake in a property management firm rising 17%.
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A filing, due to regulatory procedures, revealed a stake of more than 5% had been built up in a property management firm which ended up rising 17% just from last October. 88 year old Shigeru Fujimoto, a former pet-shop owner, has been trading for 7 decades and has built a wealth of around $14 million from trading.
In a culture built around being safe financially, it is atypical to see Shigeru taking financial risk with trading stocks at his old age. The man told Bloomberg news “When the stock price gets low, then it’s time for me to buy stocks”. The requirements this trader looks for specifically are companies that have revenues increasing, profit increasing, and dividends increasing all while the company provides share buybacks. His most successful trade was in the Storage-OH when he saw a rise of 17% in the past months.
The Japanese government is encouraging many citizens to increase their risk tolerance of buying stocks instead of parking their capital in banks as they begin to increase their pool of liquidity. Many traders wish for a day they wake up to see a position in a holding increase by 20%.
