Hello, Subscribers:
As veteran readers of this newsletter are aware, Japanese stocks have long been a Haymaker top pick. A primary factor behind our long-term bullishness was its multi-decade bear market that came in the wake of the bursting of the greatest equity bubble the world has ever seen. This pattern would seem to confirm the old adage: The bigger the boom, the bigger the bust.
As you can see below, it’s been a long claw back for the Nikkei 225, one of Japan’s main indexes.
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