Over the last two decades, Japan has suffered under the malaise of deflationary deleveraging after its stunning growth between the 1960s through the end of the 1980s. In 1991, economists were predicting that Japan would overtake the U.S. as the world’s largest economy by 2010. 1 Instead, Japan’s GD…
It's uncertainty--as opposed to readily identifiable losses in existing intrinsic value--that's weighing on Japan stock prices at the moment, says First Eagle's Matthew McLennan.
Causeway International Value manager Sarah Ketterer comments on the Japan disaster's economic impact, the reconstruction to come, and the market's reaction so far.