ARTICLE | Finance
Liking Japan's retail exodus
Why a specialist investor thinks retail exodus is good for Japanese biotech
April 20, 2015 7:00 AM UTC
At least one Japanese specialist investor hopes the ongoing rotation out of biotech by the country's retail investors is setting the stage for a new norm marked by a more mature, longer-term investor base and more rational growth.
Japanese biotech started a bull run in late 2012, when Kyoto University professor Shinya Yamanaka received a Nobel Prize for reprogramming mature cells to become pluripotent stem cells. BioCentury's equal price-weighted index of 31 Japanese biotechs was up nearly 400% at its peak in May 2013. ...