“Hey, Nikkei, you're so fine, you're so fine you blow my mind, hey, Nikkei!”

OK, as a child of the 80s, I couldn't help myself. Anyway…….

The Japanese stock market seems like it's just doing great guns. I mean, goodness gracious me, look at this – gee whillikers!

Just for kicks, I decided to see what the same ETF looked like when subjected to its own currency (the Japanese Yen) as a coefficient. In other words, what's the performance really look like, in real Yen? The picture is a little different…..

I guess “fake” and “market” have become synonymous since the central bankers decided to save us all six years ago. Congratulations, Earth!