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

ABOUT THE AUTHOR

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

Wha...