| 1 | Has the adviser performed well in bull and bear markets? | |
| 2 | Why? Because stocks are so cheap and because this bear market has been so deep and protracted. | |
| 3 | If the number is instead lower by the same margin, it would be bearish. | |
| 4 | The result of that bubble was a bear market that is already into its third decade. | |
| 5 | While crashes are often associated with bear markets, they do not necessarily go hand in hand. |