There was a time in the past when buying Japanese stocks resulted in losses.

Regarding the significant fluctuations in stock prices this time, a tone of 'let's make a calm judgment' stands out. It seems that the belief is 'stocks will eventually rise'. Is that really the case?

After the bubble burst, the Nikkei Stock Average dropped from the 0.03 million yen range to the 7,000 yen range over a decade. At that time, I bought stocks hoping to invest, but ended up losing money. Eventually, I realized that short selling was more profitable. From such a rock bottom situation, over another decade, the Nikkei Stock Average reached the 0.04 million yen range. I think it was largely thanks to monetary easing.

I'm not assuming that this stock market crash will be the same as after the bubble burst, but watching central banks so eager for interest rate hikes, it's hard to believe that 'stocks will eventually rise'.

It's not a matter of being against interest rate hikes at all. After outlining the path of the discussion, I would like an explanation of to what extent and over what period of time interest rates will be raised. Otherwise, I can't buy. To put it more bluntly, it seems like I would turn to selling as in the old days. It's absurd to base it on real interest rates. If you base it on real interest rates, you might as well raise interest rates as much as you want. Go ahead, do as you please.