Grading Byron Wien’s 2010 predictions
Prediction: 'Japan stands out as the best performing major industrialized market in the world as its currency weakens and its exports improve. Investors focus on the attractive valuations of dozens of medium sized companies in a market selling at one quarter of its 1989 high. The Nikkei 225 rises above 12,000.'
Grade: D — Investors have been focusing on Japan, as in, 'Is the U.S. the next Japan?' We're guessing that's not the kind of focusing Mr. Wien had in mind. The malaise in Nippon started with the property bust in the Nineties — and hasn't let up yet. Numbers? The Nikkei 225 started 2010 at around 10,500. It's now at 10,346. Sayonara.