Bear Markets Explained

BACK TO THE BEGINNING

"Bear markets are about cleansing the excesses of the prior bull market. Secular bear markets are about P/E compression, a move from extreme overvaluation to extreme undervaluation. The current secular bear market is now in its 11th year and in the initial phase of its third leg down."

Man, and I thought I was pessimistic... to read more and check out a beary nice long-term chart of the S&P 500 see Smart Money Tracker.