lessons from 2013 #1

Success in investing is measured in years and decades rather than in the short term. And in order to get to the ray dalio stage of perfect clarity and benevolent omniscience we must from time to time autopsy the past and gird ourselves for the future. 

So with that in mind I present the 10 things I learned, relearned and possibly have already forgotten in this past year. 

1. Monetary policy trumps all - Abe has arguably done nothing of significance since taking over with the notable exception of appointing Kuroda as the boj governor. The nikkei movement can nearly all be explained by yen weakness, which in turn can nearly all be explained by QQE from Kuroda. 

so in 2014 my eyes will be on Kuroda first and foremost, with Abe assigned a footnote in this japan revival white paper