If you're one who bought in at Nikkei 15,000, 20,000, 25,000, 30,000, 35,000 or 40,000, especially if you were 25 or older when you bought, and as the Nikkei hit nearly 40,000 20 years ago, I don't think one would be too happy with this performance, especially if they had the 'conventional' allocation into equities, and as they draw closer to retirement.
