TThe Japanese stock market crash of the early Nineteen Nineties is the equivalent of a scary bedtime story for investors. The old-timers grumble darkly when the young people get overly enthusiastic about their S&P 500 profits. That’s a superb thing, since the Japanese nightmare has an irrefutable “There, but for the grace of God…” character.
That’s partly since the Japanese bubble burst was such a rare crash.
