BULLISH BIAS
07/29/2026 |
Since 1949 there have been, including the present, 12 bull markets, defined as a rise of 20% or more. The average price return has been 191.6% and the average duration, 66.4 months. Over the same period the average return across bear markets, defined as a decline of 20% or more, has been 34.7% and the average duration, 13.6 months. Bull markets are far more lucrative than bear markets are destructive.