Taps Coogan – June 1st, 2022
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The following chart, from the Bank of America (BofA) via Mike Zaccardi, show the S&P 500 Index since 1929 on a logarithmic scale.
The punchline of the chart above is that we have had three protracted secular bear markets since the Great Depression: 1937-1950, 1966-1980, and 2000-2013. The interluding times have been secular bull markets, with the prior two secular bull markets lasting 16 years (1950-1966) and 20 years (1987-2000). The current secular bull market (assuming it’s still alive) is ‘only’ nine years old based on BofA’s methodology (bull markets start when the S&P 500 takes out the bear market starting highs) and thus is really not as long-in-the-tooth as it seems.
Just some food for thought.
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