FYI: Just a little thought experiment –
The last time the US stock market (S&P 500) registered a peak-to-trough decline of 20% was in October 2011. We had another bear market beneath the surface from 2014 through the mid-point of 2016, in which the median S&P 500 stock had lost 25% while small caps and international stocks fared much worse, but it didn’t exactly ding the major averages quite badly enough to count as an “official” bear.
Regards,
Ted
http://thereformedbroker.com/2017/05/09/into-the-teeth-of-the-next-bear/
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