It is made better if you separate
secular bull markets from secular bear markets (as does Ed Easterling of Crestmont Research).
For example, the market was in
a secular bull market from 1982 - 2000, experiencing a strong primary uptrend where the Dow Jones Industrial Average increased over 10 fold from about a low of 800 to over 10,000.
The Dow was in
a secular bull market from 1949 - 1966.
Not exact matches
«I think the U.S. stock
market is transitioning
from an interest rate
secular - driven
bull market to an earnings - driven
bull market.
I'm also the author of the 2015 book, The Coming Renewal of Gold's
Secular Bull Market and I host a podcast dedicated to bringing you insights and views
from the brightest minds in Gold and junior mining.
When valuations move
from depressed levels to historical extremes over the span of several
market cycles, the result is a «
secular bull market» and headlines about permanently high plateaus.
In our view, evidence suggests that the
secular bull market in gold is far
from finished.
It is at this juncture when a new
secular bull market could begin — perhaps several years
from now.
Last century saw three
secular Bull markets: The first lasted
from 1921 - 29.
Unfortunately, these analysts don't appear to recognize that
secular bull markets have typically started
from valuations literally one - quarter of their present level (see 1949 and 1982), and far below those observed at the 2009 low.
The 20th century saw three
secular bull markets: The first lasted
from 1921 to 1929, when the Dow Jones Industrial Average gained 367 percent.
These
secular trends can be seen in the first set of graphs below, which show the three
secular bull markets of last century which occurred
from 1918 - 1929, 1950 - 1963, and
from 1982 - 2000.
The following chart (
from Too Little to Lock In) provides a view of the sort of valuations we typically see at the beginning of
secular bull market advances, versus where we are at present.
The regular Stock - Return Predictor makes no assumptions as to whether we have reached the turning point,
from a
secular Bull Market to a
secular Bear
Market.
Juicy Excerpt: The particular year in which the change
from a
secular bear
market to a
secular bull market takes place does not matter as much when it is the safe withdrawal rates that are being examined.
Barry notes, «If the rate of change data somehow corresponds to past shifts in
secular markets from bears to
bulls, this is potentially a very significant factor.»
The second assumes a long lasting (
secular)
Bull Market starting
from P / E10 = 9.0.
You may know me
from my book, The Coming Renewal of Gold's
Secular Bull Market: Dump U.S. Stocks and Prepare for Gold's Final Run, which was first published in May 2015 and correctly anticipated the revival in Gold and gold mining stocks.
Earnings Growth Forecasts May Require a Robust Economic Recovery
Secular Bear
Markets and the Volatility of Inflation Trading Volume Separates
Bull Markets from Bear Rallies A Stock
Market Rebound Closely Linked with Economic Data Surprises
Market Valuations During U.S. Recessions Stock
Market Valuations Following the Great Moderation Will Global
Markets Take Their Lead
from the U.S.?
What I want you to take away
from this chapter is the knowledge that there is extraordinary excitement in commodities, which are in the early stages of a historic
secular bull market.
Just like you can't make out the shape of a galaxy unless you can view it
from a distance, you can't know whether you're in a
secular bear or
bull market until after it's over.
But, speaking generally, an all equity portfolio comprising an S&P 500 index fund worked terrifically in a
secular equity
bull market, such as we saw
from 1982 - 2000.
Usually
secular bull markets begin
from single digit P / E environments.
Prior to the last
secular bull market, the
market was in a long term
secular bear
market which lasted
from 1966 to 1982.
I'm also the author of the 2015 book, The Coming Renewal of Gold's
Secular Bull Market and I host a podcast dedicated to bringing you insights and views
from the brightest minds in Gold and junior mining.
Let's work backwards, beginning with the last
secular bull market, which lasted
from 1982 - 2000.
From 1921 until 1929, the Dow was in a strong
secular bull market.
As you can see, this
secular bear
market was typical of most
secular bear
markets, such as the one
from 1966 - 1982, composed of mostly vicious cyclical
bull and bear
markets that result in a mostly sideways long term movement.
Big Targets And «
Secular Bull Markets» As Bitcoin added almost 40 % in February from lows of under $ 6000 in some markets, Max Keiser led cautious optimism, celebrating what he called the end of «secular bull market.
Secular Bull Markets» As Bitcoin added almost 40 % in February from lows of under $ 6000 in some markets, Max Keiser led cautious optimism, celebrating what he called the end of «secular bull market.&ra
Bull Markets» As Bitcoin added almost 40 % in February from lows of under $ 6000 in some markets, Max Keiser led cautious optimism, celebrating what he called the end of «secular bull market.
Markets» As Bitcoin added almost 40 % in February
from lows of under $ 6000 in some
markets, Max Keiser led cautious optimism, celebrating what he called the end of «secular bull market.
markets, Max Keiser led cautious optimism, celebrating what he called the end of «
secular bull market.
secular bull market.&ra
bull market.»
As Bitcoin added almost 40 % in February
from lows of under $ 6000 in some
markets, Max Keiser led cautious optimism, celebrating what he called the end of «
secular bull market.»