Nightmare on Wall Street: This Secular Bear Has Only Just Begun

Nightmare on Wall Street: This Secular Bear Has Only Just Begun:
Jul 02, 2012 Ed Easterling 

Secular bull markets are great parties. Investors arrive from secular bears really wanting to take the edge off. As the bull proceeds, above-average returns become intoxicating. By the time it is over, the past decade or two has delivered bountiful returns.

In contrast, secular bears seem like hangovers. They are awakenings that strip away the intoxication, leaving a sobering need for an understanding of what has happened.
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