Secular Bull & Bear Markets
Since inception the stock market has been in either a secular (long term) bull or a secular bear phase.
Markets become significantly overvalued in the late stages of a Secular Bull Market and significantly undervalued in the late stages of a secular bear market …
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A secular market is a market driven by a macro trend which can remain in place for many years, resulting in the stock market going up or down for a long period of time. In a secular bull market low interest rates and strong corporate earnings push stocks prices higher. In a secular bear market slowing economic growth, declining corporate earnings and rising interest rates cause selling pressure which pushes stocks lower for an extended period. Cyclical bull or bear trends which have peak-to-troughs that are shorter in duration occur during secular bull and bear markets.
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China’s Steps to Cool Bond Rally Sap Demand for Wealth Products
Inflows into wealth-management products slid 90% in August State banks seen selling long-dated debt to cool rally Signs that Chinese officials are pushing back on the record-breaking bond rally are deterring at least one group of investors that have been a key driver...
Brazil’s Economic Activity Posts First Monthly Drop Since March
Central bank seen lifting rates by quarter-point next week Economic activity fell 0.4% on month in July; est. was -0.7% Brazil’s economic activity fell less than expected in July, snapping a series of gains as central bankers are expected to mull the start of a cycle...
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Jim Cullen stays disciplined while peers chase growth trades Money manager has endured market cycles over six-decade career Jim Cullen knows the urge. Embattled cheap-stock managers sense their careers are under siege, ignore their mandate — and grab a few expensive...
The 5-minute video below answers these questions:
- Why since 1802, has the market rotated from secular bears to secular bulls, and back to secular bears eight times?
- Why there can be many cyclical bulls during one secular bear and vice versa?
- Years it takes for a new secular bull to exceed the highs of the prior secular bull
- Percentage decline ranges from a secular bull peak to low of subsequent secular bear
100 Years of Secular Bulls and Bears
