FNArena Editor Rudi Filapek-Vandyck observes the term "bull market" is increasingly making a come-back among equity experts in Australia and elsewhere. He explains that, while it is a popular sport to try to predict the start of the next bull market when equities are at are near a low, as they were in June this year, history shows the difference between bull and bear markets is not determined by the rallies from low points but by the downward corrections from higher points.
Whereas in a bull market such corrections are merely an interruption inside an ongoing uptrend, he explains, in a bear market they wipe out what has been gained previously and effectively mean the share market hasn't made any real progress as a result. As such it is his assessment that investors will only know when the next bull market has started once we've all assessed that corrections leave the upside trend intact; in hindsight thus.
For more details about Rudi's historic analysis, see also "Bull And Bear Markets - A Common Sense, Historical Perspective" at http://www.fnarena.com/index4.cfm?type=dsp_news_weekly&wid=1259
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