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【88歳現役トレーダー・藤本茂さんのある一日】投資歴69年・資産18億円／午前2時から東京株式市場大引けまでの日本株取引に密着／タンス預金じゃつまらんで／銘柄選別・デイトレードの魅力・新NISAも聞く
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00:27:50

88-Year-Old Day Trader Reveals 69-Year Investing Strategy Behind $1.8M Fortune

Key highlights from Shigeru Fujimoto's trading approach:

  • Starts daily analysis at 2:00 AM tracking U.S. markets and currency fluctuations
  • Combines fundamental analysis (PER, PBR, yield) with technical indicators like RSI
  • Executes 20-30 daily trades using discounted brokerage plans
  • Maintains portfolio of 30+ stocks with strict entry/exit criteria

The Pre-Market Routine

At 2:00 AM, Shigeru Fujimoto begins analyzing global markets from his home office. His focus includes:

Currency & ADR Monitoring

Tracking yen fluctuations and Japanese stocks trading as American Depositary Receipts (ADRs), like Sumitomo Corporation's overnight price of ¥3,850.

Financial Report Analysis

By 4:00 AM, he processes Nikkei newspaper reports, creating stock assessments like his "B-minus" rating for Sanwa Technos after their profit decline.

Core Investment Framework

Fujimoto's stock selection combines quantitative screening with market psychology:

Fundamental Filters

  • PER (Price-Earnings Ratio): Identifies undervalued companies
  • PBR (Price-to-Book Ratio): Measures asset backing
  • Dividend Yield: Targets minimum 4% for margin trade viability

Technical Triggers

Uses Relative Strength Index (RSI) for timing decisions, explaining: "When RSI drops below 30, it signals potential buying opportunities. Conversely, an RSI above 80 suggests overbought conditions."

"The market has mountains, forests, trees, branches, and leaves. The Dow represents the whole landscape, but individual stocks move independently. You must understand both perspectives."

Trading Execution & Risk Management

Cost Efficiency

Uses Iwai Cosmo Securities' high-frequency plan: ¥50,000 monthly fee for 1,000 trades (¥56 per transaction), contrasting with standard 1% commissions that would cost ¥300,000 on a ¥30 million trade.

Settlement Play Tactics

Demonstrated through Tokai Rika trade: Purchased at ¥2,010 before earnings announcement despite projected profit decline, then sold at ¥2,200 for ¥700,000 gain after positive market reaction.

Margin Trading Philosophy

"With dividend yields exceeding margin interest rates (4.1% vs 2.8%), responsible leverage becomes mathematically advantageous. But always practice margin buying with cash settlement for risk control."

Evolution of a Trader

Early Beginnings

Started at 19 (1955) after meeting Ishino Securities executive at his pet shop. Initial holdings included Sharp, Okuma, and Nisseki.

Digital Transition

Adopted online trading at 66 (2002): "I knew nothing about computers initially. Previously, all transactions involved face-to-face meetings with brokers."

Market Wisdom & New NISA Strategy

Trading Proverbs

  • "Water flows downward": Markets follow natural cycles - "Stocks rise when they fall and fall when they rise"
  • "Give me your head and my tail": Avoid greed by taking partial profits

New NISA Approach

Recommends tax-advantaged accounts for beginners: "With government incentives, not using NISA is illogical. Focus on companies with low PER/PBR, growing earnings, and increasing dividends."

Advice to New Investors

"Develop financial literacy before trading. Paper money outperforms mattress savings through dividends and shareholder benefits. But remember - stocks aren't casual friendships; they require ongoing relationship management."

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