The psychology
underlying bull and bear markets is why P / E ratios expand during bull markets and contract during bears.
Not exact matches
As the
underlying economy
and baseline earnings level grew, the market slowly whittled its P / E back to levels associated with typical secular
bull ends
and secular
bear starts.
At their core, these waves reflect constant battles between
bulls and bears,
and the
underlying trend - range axis.
The Defined Risk Strategy is designed to outperform the
underlying benchmark over a full market cycle (
bull and a
bear market).