The combination of the extremely powerful 1982 - 2000 bull market accompanied by a senseless financial mania was the recipe for the
start of the secular bear market we envisioned.
The Dow Jones Industrial Average lost 1.18 % per year over the
course of this secular bear market and to put this into perspective, a CD (Certificate of Deposit), made a more attractive investment than the «Blue Chip» stocks of the Dow Jones Industrial Average.
Now the reality is no one will consistently miss all the worst days — I'm the first guy to admit our 100 % Cash call the day before the flash crash was dumb luck — but you can avoid being long for
most of a secular bear market.
And does the current economic backdrop yet have the characteristics that usually coincide with the end
of secular bear markets?