Is it a doughnut or a doughnut hole [Kō Morì]

Mr. Akira Mori's Profile

Economist. Affiliated with a think tank (United States). Specializes in exchange rate policy, monetary policy, macroeconomic policy, and financial regulation. Interacts with market participants, financial authorities, and policymakers to analyze exchange rate trends from multiple perspectives.

Happy New Year. I would like to express my gratitude to readers who are taking the time to read my writing, and I sincerely hope that you all have a wonderful start to 2020 as well.

Now, this manuscript is written after Thanksgiving. This year, my wife kindly prepared a turkey, which we enjoyed deliciously. I don’t much care for cranberry sauce, but I’d like to share a bit of trivia. A long time ago, as wisdom from our ancestors to prevent turkey illness, cranberries were used, and recently I read an article stating that it became customary to eat with cranberry sauce.

When the university campus finishes final exams, students become sparse and the campus is quiet. On the other hand, the shopping streets are adorned with Christmas trees and lights, and soon Christmas holidays begin. A toast of champagne at NEW YEAR marks the end of the break. As one grows older, time flies, and the sense that “it's already Christmas” brings a certain wistfulness.

Changing the subject, Irish playwright Oscar Wilde left the famous saying, “The optimist sees the doughnut, the pessimist sees the hole.” This expresses that pessimists tend to focus on the negative aspects. From 2020 to 2021, I believe investors’ styles will differ greatly depending on whether they “see the doughnut” or “see the hole in the doughnut.”