actio-et-reactio
Balance is but a brief transition between extremes.
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Friday, February 01, 2002
Nikkei to Dow Jones Industrial 30 ratio
A number of people
remarked that yesterday the DJ30 has traded above the Nikkei, a startling observation when one considers that at the height of the Nikkei, the Nikkei traded nearly 13x greater than the DJ30. It was the first time since August 6, 1957, that the Nikkei dipped numerically below the Dow. The ratio tells an interesting story.
It turns out that the recent plummet of that ratio to parity took 33 years-- the Nikkei first came close to overtaking the Dow in 1969, when both indices were trading close to 1,000 points. As it turned out, the Dow retreated before reaching 1,000, while the Nikkei didn't look back for another 20 years, when it hit its peak in1989. It has been 33 years since this ratio has been at parity.
and more recently:
Labels: Nikkei-Japan
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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