Japan's ability to bounce back up is questioned

Managers of Japanese funds have had a rough ride these last few years. They may be operating in the world's second largest economy, but the morning analysts' meetings have all the glamour and status of an invitation to join the board of Independent Insurance. Every now and then, when a turnaround threatens, the hapless Japanese fund manager is allowed just a few more minutes to make the case for an unmissable buying opportunity. The assembled big hitters fiddle with their pens or personal organisers until he finishes a curiously apologetic explanation as to why it is all just about to tak...