Todd, I think your clear thinking is on the mark for 2009-2010. Most investors do not know we entered a secular bear market in 2000. The Oct. 2007 high on the SP is the end of a cyclical bull market within this bear. Secular bull and bear markets last a long time often 15 to 20 years, witness the last secular bear from 1966 to 1982 and the secular bull from 1982 to 2000.
Fear and Loathing in 2009 [View article]
I think your clear thinking is on the mark for 2009-2010. Most investors do not know we entered a secular bear market in 2000. The Oct. 2007 high on the SP is the end of a cyclical bull market within this bear. Secular bull and bear markets last a long time often 15 to 20 years, witness the last secular bear from 1966 to 1982 and the secular bull from 1982 to 2000.