Japanese stocks are at a record high, revealing a primary lesson about investing

Investors are drawing the wrong lessons from Japan’s Nikkei 225 Index JP:NIKtopping its 1989 high last week. Many investment professionals claim this proves that stocks eventually produce a profit, if you just hold on long enough. In truth, the correct lesson to draw from Japan’s experience is that stocks are far riskier than most assume, and there are no guarantees.Most investors ignore Japan altogether when concluding that stocks should come out ahead over investment horizons as sh