Why work hard and get yelled at by asshole hedge fund traders when there is a much larger, much more polite audience for your analysis, willing to pay ten bucks per report?
Harada gave up more than $250,000 in salary, an office overlooking Tokyo Station and a bank directorship to write equity research reports for Japan’s housewives from a room the size of a cubicle.
Bored with churning out fodder for hedge funds, the technology analyst left Citigroup Inc. in February 2013 to start a website for investors still interested in buying and holding stocks and who are in need of advice: households....
Emboldened amid the Nikkei 225’s 57 percent surge last year, Harada and Ryosuke Izumida, a former fund manager at Fidelity Investments in Tokyo, hired 10 analysts from some of Wall Street’s largest firms to start Longine.jp, selling stock reports for the price of a box lunch, about $10. The site has drawn about 4,000 members since opening in June, Harada said.
Japan Housewives Pitched Stocks by Former Bank Analysts [Bloomberg]