Not exact matches
So given that the global earnings / economic
cycle remains intact, I don't think it's time to talk seriously about a potential
bear market emerging.
Though our investment horizon of interest is a complete
market cycle, we don't generally think in terms of bull and
bear markets, because they can only be determined in hindsight.
Be mindful that a shift in
market internals doesn't necessarily mean that the entire
cycle has changed from bull to
bear or vice versa, so we always have to allow for shifts.
Still, investors who
do so should make that decision explicitly, with an understanding of the implications of that choice — as in «I am consciously choosing, here and now, to ignore the potential for the current
market cycle to be completed by a
bear market, either because I am willing to hold stocks regardless of their future course, or because I will adhere to some well - tested investment discipline that has been reliably capable of avoiding major losses.»
Secular
bear markets come as a result of speculative bubbles, and you don't purge a speculative bubble with one
bear market cycle.
Likewise, if you don't intend to hold the Strategic Growth Fund over the course of a complete bull -
bear market cycle, you should not invest in the Fund, because we have no firm expectation that the Fund will outperform the
market over smaller segments of the
market cycle.
I needed a few bull and
bear market cycles to really wrap my head around the fact that I don't know anything at all.
We feel that our mechanical strategies are enough to handle the
market's ups and downs, and if you stick with those strategies through both the bull and
bear portions of the stock
market cycle, you're going to
do quite well over time.
Though our investment horizon of interest is a complete
market cycle, we don't generally think in terms of bull and
bear markets, because they can only be determined in hindsight.
Anyone who thinks that the bounce means that the current
bear market is over would
do well to study the behavior of
bear markets past (quite aside from simply looking at the plethora of data about the economy in general, the cyclical nature of long - run corporate earnings and price - earnings multiples over the same
cycle).
Under his leadership, Heartland's Value Fund has been noted by Forbes as having «
done well... in both
bear and bull
markets over two
market cycles.»