A History of U.S. Bull and Bear Markets

by brian_willis

It’s surprising just how small the bear markets are relative to both the length and returns of the bull markets. I would have guessed a ratio of 70% bull to 30% bear, but it’s more like 90% bull to 10% bear. A good reminder about how the media’s natural pessimism can alter our thinking about market performance, and about the value of buy-and-hold.