Taps Coogan – July 19th, 2022
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The following table from Goldman via Isabelnet, shows the basic statistics of every bear market (by their definition) in US equities since 1835.
![](https://thesoundingline.com/wp-content/uploads/2022/07/bear-markets-since-1835.jpg)
The average bear market decline is about 37% for US equities, lasting just over two years. The median decline is 32%, lasting 17 months. The current bear market has, at it’s greatest decline, fallen about 23% and lasted five-to-six months.
As we’ve noted before, there are few-if-any examples of market declines much larger than the current decline that did not happen immediately prior-to-or-during a recession.
Arguably, this market has already priced in a mild recession. It has not, however, priced in an ‘average’ recession, and certainly not a financial crisis.
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