The tragedy is, however, that the only way to generate short-term performance in the current environment is to buy these stocks. It has been said that day trading is the nexus between arcade video games and the stock market. And for the folks who like their financial strategies so short-term they need a joystick with a trigger, may we offer this innovation from Japan. The consumer electronics giant Sony is partnering with a U.S. investment bank, J.P. Morgan, to provide online banking and other financial transactions through the new Playstation2 video game console. The Playstation2, which will be released in the U.S. this fall, can be hitched up to the Internet.
Analysts say Japan's antiquated banking system is being transformed by online banking.
Doing it on the Playstation2 on your television probably would have the same kind of security. It's just a little bit more different of an environment. Televisions tend to be in very public places in the house, and financial information tends to be somewhat private. I don't know if I would want to advertise everything in my checking account to my two kids and my wife, particularly my wife. The point that remains is that electronic banking is a killer application.