The Only Three Questions That Count: Investing by Knowing What Others Don't

Appendix I. Japan Stock Market Total Returns

Date	% Change
Source: Global Financial Data. Total returns as calculated by GFD to simulate a backtested TOPIX index; not official TOPIX data.
Jan-26	4.79%
Feb-26	3.34%
Mar-26	−1.74%
Apr-26	0.32%
May-26	0.00%
Jun-26	−0.64%
Jul-26	3.06%
Aug-26	−0.63%
Sep-26	−1.42%
Oct-26	0.32%
Nov-26	0.80%
Dec-26	−3.55%
Jan-27	4.34%
Feb-27	3.22%
Mar-27	−0.84%
Apr-27	−6.36%
May-27	−2.37%
Jun-27	−1.34%
Jul-27	−1.19%
Aug-27	0.60%
Sep-27	2.56%
Oct-27	1.83%
Nov-27	−0.82%
Dec-27	2.72%
Jan-28	1.53%
Feb-28	2.37%
Mar-28	2.01%
Apr-28	−1.44%
May-28	2.31%
Jun-28	1.73%
Jul-28	1.62%
Aug-28	−0.87%
Sep-28	0.59%
Oct-28	−2.41%
Nov-28	−0.60%
Dec-28	−1.43%
Jan-29	1.75%
Feb-29	3.37%
Mar-29	0.51%
Apr-29	−2.67%
May-29	−3.63%
Jun-29	0.00%
Jul-29	−3.38%
Aug-29	−4.22%
Sep-29	0.33%
Oct-29	0.66%
Nov-29	−0.66%
Dec-29	−3.15%
Jan-30	−0.26%
Feb-30	2.23%
Mar-30	−3.10%
Apr-30	−5.54%
May-30	−1.10%
Jun-30	−7.59%
Jul-30	−2.20%
Aug-30	1.13%
Sep-30	−6.79%
Oct-30	−3.70%
Nov-30	5.87%
Dec-30	6.82%
Jan-31	−0.40%
Feb-31	2.71%
Mar-31	5.76%
Apr-31	−0.37%
May-31	−1.30%
Jun-31	0.38%
Jul-31	2.34%
Aug-31	−3.38%
Sep-31	−3.12%
Oct-31	−8.10%
Nov-31	1.17%
Dec-31	8.60%
Jan-32	26.47%
Feb-32	3.97%
Mar-32	−3.01%
Apr-32	−8.18%
May-32	1.16%
Jun-32	−4.57%
Jul-32	4.10%
Aug-32	4.02%
Sep-32	9.79%
Oct-32	2.95%
Nov-32	17.25%
Dec-32	22.04%
Jan-33	3.61%
Feb-33	−7.54%
Mar-33	1.88%
Apr-33	1.70%
May-33	3.49%
Jun-33	5.46%
Jul-33	1.40%
Aug-33	0.18%
Sep-33	5.63%
Oct-33	1.39%
Nov-33	−2.77%
Dec-33	3.32%
Jan-34	5.11%
Feb-34	3.10%
Mar-34	0.80%
Apr-34	−2.94%
May-34	1.17%
Jun-34	−1.00%
Jul-34	−1.75%
Aug-34	0.32%
Sep-34	−3.23%
Oct-34	−1.26%
Nov-34	0.49%
Dec-34	−1.11%
Jan-35	0.17%
Feb-35	2.65%
Mar-35	0.61%
Apr-35	−0.16%
May-35	−1.65%
Jun-35	−2.29%
Jul-35	−0.46% ...