• From 1949 to 1966, the Dow went from 160 to 1000
    (17 years)

  • From 1966 to 1982, the Dow did not move out of the
    1000 range, except for a drop into the 500's (!) in the
    70's (16 years)

  • From 1982 to 2000, the Dow went from 1000 to
    11,000 (18 years)

  • From 2000 to August 17, 2008 the Dow went from
    11,900 to @9,300 (@9.5 years so far, for @
-2.4% average annual return)
Secular markets last an average of 17
years. Secular bulls go up. Secular
bears often have great volatility, but
end up going nowhere.

How long before the next bull market?
This is intended for educational purposes only. This should not be construed as a
recommendation to buy or sell any security. The information contained herein is not meant to
constitute specific investment advice. An investor should consult with Don A. Slabaugh (DAS),
or his or her own professional financial  adviser (if not DAS), prior to acting on any of the
information stated above.
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