Investors who bought Japanese stocks at the peak of Japan fever in December 1989 are the closest they have been in 27 years to making their money back, at least assuming they reinvested dividends. If shares in large Japanese companies keep rallying the way they did as the ’80s were ending, investors might be back in the black in January. Japan carries lots of lessons for western investors, about aging societies, how hard it is for central banks to fight entrenched deflation, and about the scale of losses when a proper bubble...

Source: Wall Street Journal November 09, 2017 18:56 UTC