Bull markets do not die of old age

Tim Farrelly  |  farrelly’s Investment Strategy  |  18 February 2020

Bull market longevity tells us nothing about the timing of the next bear market. Valuations are a helpful warning of an impending bear market, indicating when caution is advisable. However, valuations don’t inform us on the timing of a bear market because generally valuations don’t trigger bear markets, the trigger is normally a shock.

Presentation  (4 mins)  |  Podcast


Tim Farrelly is Principal of specialist asset allocation research house, farrelly’s Investment Strategy, available exclusively through Portfolio Construction Forum.

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