There is a figure that almost no one knows in the history of Japanese trading, but whose story challenges everything we believe about how to make money in the markets. Takashi Kotegawa—better known as BNF in trading circles—is precisely that kind of person who makes you rethink everything.



What’s fascinating about Kotegawa is that he didn’t come from a wealthy family nor had access to formal financial education. He was born in 1978 in a completely ordinary context. After graduating from university, he simply decided to start trading in the Japanese stock market during its boom. Without mentors, without institutional backing, with nothing but his curiosity and discipline. He learned by observing charts, studying price patterns, analyzing company fundamentals. Pure self-education.

But the real moment that propelled him to legend status was during the chaos of 2005. The Livedoor scandal shook the Japanese stock market, creating extreme volatility. While most investors panicked, Kotegawa did exactly the opposite: he saw opportunity where others saw fear. In just a few years of intense trading, it’s reported that he accumulated over 2 billion yen—about $20 million. His ability to move quickly in chaotic markets was simply superhuman.

And then there’s the trade that practically made him an urban legend. During the J-Com error in 2005, a trader at Mizuho Securities made a monumental mistake: sold 610,000 shares at 1 yen, when it should have been 1 share at 610,000 yen. Most people wouldn’t have noticed anything. Kotegawa saw it instantly. He massively bought those undervalued shares, and when the error was corrected, he made huge profits. It was the kind of decision that requires not only vision but also nerves of steel.

What really surprises you about Takashi Kotegawa is how he lives after generating so much wealth. He still uses public transportation. Eats at inexpensive restaurants. Almost never appears in the media and avoids public appearances. It’s as if his goal was never fame, but simply to master the game.

His legacy proves that in a world dominated by giant hedge funds and institutional corporations, it’s still possible for a disciplined retail trader with perfect timing and the right mindset to completely shake up the board.
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