Tokyo now has a Reddit-inspired bar where seasoned traders provide newbie investors with trading tips, Bloomberg reported.
An investing influencer, who goes by the name Satoshi Uehara on Twitter, opened “Stock Pickers” in early March after a crowd-funding campaign raked in more than $50,000, or about six times the target.
The bar’s PR manager, Riki Yamauchi, told Bloomberg many novice investors visit the bar to meet Uehara and other experienced traders to gain an understanding of investing and stock valuations.
“People’s mentality is changing — you really have to think about how to structure your wealth,” Yamauchi, who is a financial professional himself, said. He said many youngsters have become more open to investing after Japan’s economy saw 30 years of near-stagnation.
Millions of retail investors accounted for a large part of stock-market activity during the pandemic, when people were stuck at home and began exploring easy-to-navigate online trading platforms.
At the bar, there are books on value investing and advice from legendary investor Warren Buffett. A model cannon used to symbolize the central bank’s asset-buying capacity can be found in one part of the bar, where a sign states: “Don’t fight the NIPPON GINKO (the Bank of Japan).”
Customers can also order investing-themed drinks, according to Bloomberg. The “Margin Call” – made with vodka, grenadine, and Campari – is said to have a biting taste meant to stir up bitter feelings traders may experience when summoned with the brokerage demand. The “Lehman Shock” is a punchy drink named after the investment bank at the centre of the global financial crisis. The “Abenomics” – made with cherry blossom syrup and grapefruit juice – is said to be less heavy than investors would hope.
“Stock Pickers” is not just popular among the newbie investors. It’s also had many visits from institutional investors. That may be because of Reddit and GameStop, according to Yamauchi. “People really care about what retail is thinking,” he said.
The bar opened when Tokyo was still in a state of COVID-19 emergency, but is able to function under shortened operating hours.