Discounting Disaster

(Mar 2020) In response to the threat posed by Coronavirus, Peter considers the current state of the Japanese market relative to 2008 and 2011-12's shock events.

Summary

  • Japanese value stocks are already trading close to their apocalyptic PBRs of 2008 and 2011-12.
  • The market’s nadir is expected to be reached sooner rather than later.