The mysterious Twitter user drawing a swarm in Japan
Okasanman, an anonymous Twitter account, though only points to already available information, the speed at which it does it has built a following that's larger than that of the BoJ
On a day when billions in profits and losses would be determined by split-second trades, the salaried professionals of Japan’s financial markets were glued to their news terminals. Another group was staring at the feed of an anonymous Twitter account.
It was shortly after noon on 29 January 2016, and people with money at stake were waiting for the Bank of Japan (BoJ) to announce its monetary policy. While the decision’s date is set in advance, nobody knows its timing.
“It’s a negative interest rate bazooka!” wrote the Twitter user who goes by the handle Okasanman, attaching a screenshot of an article just published on a local news website, showing the BoJ was discussing introducing minus rates as its latest shock-and-awe stimulus weapon.
As stock futures jumped and the yen tumbled, some traders expressed gratitude for the warning. About 15 minutes later, the bank said it was taking borrowing costs below zero. “This post saved my life,” one user gushed in reply. “The profits I made are thanks to it.”
While the account only points to already available information, the speed at which it does—and the breadth of its coverage—has built a following that’s larger than that of the BoJ.
“How is it so fast?” asked Hajime Sakai, chief fund manager at Mito Securities Co. in Tokyo, where he helps oversee $594 million. “I’m very curious to know.” Okasanman’s identity and motivation for spending hours every day providing information to more than 146,000 followers...for free are a mystery. The person or people behind the handle didn’t respond to multiple requests for comment.
“I think he might be a bit older,” says Yoneshige, 29. The language used, as well as a taste for dad jokes and an obsession with Ivanka Trump, would seem to point to a middle-aged man, but Bloomberg News was unable to...confirm who Okasanman is.
Okasan Securities Group Inc., a mid-tier Japanese brokerage house, says it has nothing to do with the account.
The motives are also unclear. There seems to be no attempt to monetize the feed, or tweets that might be supplied by sponsors. Not everyone is that impressed. “He tweets news really fast. That’s my only impression,” said perhaps Japan’s most-famous tweeting day trader, who goes by the handle Cis.
One thing is certain: Okasanman’s influence has grown so much that his occasional pranks can cause confusion, such as a tweet in November 2016: “Kuroda to hold emergency press conference on resignation,” it said. Many took this to be a reference to BoJ governor Haruhiko Kuroda. Two minutes later, he clarified: ‘It was Hiroki Kuroda, former pitcher for the baseball team Hiroshima Carp.’
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First Published:15 Jan 2018, 05:02 PM IST
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