My "Historical Shock" Experience Tale ~ LTCM ~ [Water Travelogue]

Sharp rises and sudden drops offer high returns but also come with greater risks. To prepare for and overcome the coming big market swings, we need to learn from past cases. Here, Noriyuki Mizukami provides an explanation of a hedge fund–origin crisis that occurred in 1998, and lessons that individual investors should take away from it.

*This article is a reprint and revised edition of an article from FX攻略.com, April 2019. Please note that the market information stated in the body may differ from current market conditions.

Noriyuki Mizukami Profile

Mizukami Noriyuki. Representative of Banya Market Focus. After graduating from Sophia University with a degree in economics in 1978, he joined Sanwa Bank (now MUFG Bank). After five years in branch operations, he worked as a currency dealer in London, Tokyo, and New York. In the Tokyo Foreign Exchange Market, he is known as “Sanwa’s Mizukami.” He served as head of the Foreign Exchange Department at Dresdner Bank. In 1996, he joined RBS Bank, where he served as head of the Foreign Exchange Department and later as head of Foreign Exchange Sales. From 2007, he is the representative of Banya Market Focus. He is well known for his highly accurate market forecasts based on years of experience and knowledge.