Roger Nusbaum submits: This chart is from Barry Ritholtz. I have seen it on his blog and it is in his most recent Street.com article too [bull markets in green, bear in red -- note length of each and where we now stand]:
Some of the things I have touched on in past posts are clearly visible in this chart.
Look at the red periods of time. There are some colossal up years during those time periods. The three years ending 12/31/1936 is about as sharp a move up as has ever occurred. More attention from this time period is devoted to how to get to the pre-crash high. This chart speaks to that being the wrong thing to think about.
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