<<But by about 1994 the assets in Japanese mutual funds had dropped by 90%. Partly caused by declines in their stock market, exacerbated by formerly "long term investors" pulling out what they could salvage before they "lost it all". Investor psychology never changes.>>
I didn't realize the Nikkei was off 90% by 1994, I guess THAT'S why their banks are having so many problems. I know they are having a recession, but I haven't read of any depression-type situation in Japan in the 90's, but admittedly I don't keep up. (I do remember one of their leaders making some remark about "fat, lazy, unproductive American workers", or something to that effect. I'm having a tough time feeling sorry for them because of that, though my own typically American personal greed and desire for more and more money keeps me from rooting for them to collapse, and screw us up in the process.)
Surely those Japanese that stayed in their mutual funds, and picked up more shares at 10 cents on the dollar, have made some sort of comeback by now ? I am not that familiar with Asia/Japan, which is why I read all of Paul's posts. I did know that their banks have/had some fishy rules regarding what they are allowed to list as capital on the financials (sort of like our financial system in the 20s), and that would eventually hurt them, I just didn't know it would surface.
jww |
