Former Soros Trader Has Made A Career Out Of Saying One Incorrect Thing For The Last 12 Years

Fujimaki

Photo: Fukimaki Japan

A breathtaking paragraph in the FT:Takeshi Fujimaki has been wrong for a decade and counting. Since the former star JPMorgan trader was fired by George Soros in 2000 for shorting Japanese government bonds, he has earned a living advising pensioners to cut their yen holdings, in anticipation of an imminent fiscal collapse.

This is an ironic thing.

The great rally in the yen/Japanese Government Bonds has been called the widowmaker precisely because folks like Fujimaki have been wrong for so long.

But widowmaker implies people becoming widows AKA: their husbands dying. In this case, the advice has been horrible, but he keeps on trucking.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.