Differences in National Character Revealed through Stock Investing
I recently started investing in stocks.
Apparently, Japanese investment rates are very low compared to other countries, especially among the elderly, because many people view stocks as gambling.
Many Japanese people still maintain bank savings, which likely offer some of the lowest interest rates in the world.
Furthermore, many Japanese who invest in stocks trade with brick-and-mortar securities firms.
I started investing with an online brokerage.
The fact that Japanese stocks can only be purchased in increments of 100 shares struck me as a strong connection to Japanese society.
While other countries, such as the United States, allow you to purchase as little as one share, Japan is a strange country when it comes to investing.
I strongly believe that Japan’s 100-share purchase rule succinctly represents the collectivist nature of Japanese society.
I find the uniquely “collectivist” and “totalitarian” tendencies of Japanese society extremely difficult to handle.
Many Japanese people believe that the majority is right.
As a result, the overwhelming majority of people simply follow the majority opinion without thinking.
Individual opinions and thoughts are rarely respected.
The same equation holds true in the world of investing.
Aside from veterans, most beginners buy stocks that everyone else is buying, recommended by famous YouTubers and experts.
I had no interest in collectivist Japanese stocks, so I decided to research and buy US stocks.
I happen to be an English teacher, so I started researching stock websites in English.
My stock story continues.
