To be clear, I was talking about the period up to 2019 and COVID. The cultural attitudes about investing in stocks vs money in bank accounts came from Nikkei performance before the last few years.
Since 2019, it’s up 2x, but the yen went down vs the dollar and there’s been some inflation. In terms of what a unit of the Nikkei can buy in America, the valuation is flat since 2019. Which might actually be a hint about what’s driving the relative valuation...?
To be clear, I was talking about the period up to 2019 and COVID. The cultural attitudes about investing in stocks vs money in bank accounts came from Nikkei performance before the last few years.
Since 2019, it’s up 2x, but the yen went down vs the dollar and there’s been some inflation. In terms of what a unit of the Nikkei can buy in America, the valuation is flat since 2019. Which might actually be a hint about what’s driving the relative valuation...?