Check out this link from the article
http://blogs.wsj.com/japanrealtime/2...arket-outlook/.
One of the more egregious forecasters from 1989 had the rather comical name Pelham Smithers. Sure enough, he is still going strong with a boutique research firm on Japan and appears on Bloomberg UK once in a while.
Originally Posted by
FLLDL
a little bump for this old thread.
Nikkei reached its all-time high 25 years ago yesterday:
Tokyo’s Stock Bubble: 25 Years on From Nikkei Peak
http://blogs.wsj.com/japanrealtime/2...e-nikkei-peak/
A quarter-century ago on Dec. 29, 1989, Japan’s Nikkei Stock Average finished the year at an all-time high of 38916, more than twice its current level. In retrospect, it’s clear the market was at bursting point, but at the time the mood was still confident, with some analysts predicting a surge beyond 45,000 by the end of 1990.
“Japan’s stock market spawns two kinds of investors: believers and skeptics. The believers are getting rich. The skeptics are getting sore,” Marcus W. Brauchli, then a staff reporter for The Wall Street Journal, wrote in an article published Jan. 2, 1990. “Just when the market seems top-heavy, it heads even higher,” he said.