2023-06-16 12:58:17
VA long time ago I was invited to my first commercial lecture. I was supposed to tell something about technical analysis for half an hour and receive a fee for it, which I would have gotten along with more than two months as a student a few years earlier. I could hardly believe my luck. Judging by the applause at the end, my contribution was one of the humorously good kinds. The audience was happy and so was I. This is how the afternoon could have ended if I hadn’t been asked in the subsequent question and answer session to define the terms “boom” and “bear” that I often use.
At first I suspected I was being mocked. Every investor should know what a bear market is and also what a bull market is. But then I realized the importance of the question, I stumbled and the audience became a little more reserved. It is already clear that prices fall in a bear market and rise in a bull market. But the crucial question is: How far? At what point is a bear market a bear market and a bull market a bull market?
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