Gerry Sullivan

Dancing with the Bear Market

There are 3 possible causes of major bear markets: excessive valuation, excessive leverage and oil. Each of the prior major bear markets
(1929-1933, 1973-1974, 2000-2003) featured 2 of the 3 causes.

This is the first bear to feature excessive leverage and oil together.
Otherwise, nothing is new.

Each of the previous bear markets provided an opportunity to buy stocks and build wealth.

The real question is when to buy.