Long-term investors in Japan will smile at the commentary below. A generation of investors have been worn down by many false starts and promises.
Today, however, we are starting to see a real transformation in Japan. This may illicit wry smiles, as 'old timers' think of the long and distinguished broker lists that have been decimated as investors shunned the idea that change was ever possible. Mainstream investors are looking elsewhere. But therein lies the opportunity. Any lessons for the West from Japan's experience? The long-term case for taking an active approach to investing in Japanese equities rests on four tenets: a 30-year bear market has severely impacted investor psychology; there is no culture of equity ownersh...
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