How Will This Cycle End?

One of the hard parts about using history as a playbook in the markets is we don’t have a huge sample size. In the past 100 years or so, there have really only been three secular bear markets and three secular bull markets. Since WWII, there have been just six drawdowns of 30% or worse for the U.S. stock market. You had the bull market of the 1950s, the 1980s and 1990s run and now the 2010s into the 2020s. Market hi...