From the Big Picture Blog
A decade ago, I concluded that we were in the early stages of a
secular bear market, and that investors needed to adjust their risk
postures accordingly. Back in December 2003, I penned a piece for the Stock Trader’s Almanac, titled Managing the Very, Very Long Term, based on this blog post from November 2003.
Long time readers know this is a major theme to for me. Much of my
commentary, presentations and investing posture has been about longer
term, secular cycles. Search the Big Picture for the phrase “secular bear market” and 659 results come up (in quotes, 130).
This is a great piece -- one that everybody who is interested in the market should read. So go read the rest of it.