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Why you won’t know it when a bear market starts

It was on Oct. 9, 2007, 14 years ago this week, that the stock market hit its bull market high prior to the beginning of the Financial Crisis-induced bear market. Instead, you undoubtedly were sharing in the exuberance that accompanied yet another new bull-market high. The S&P 500 (SPX) was 120% higher than where it had stood at the beginning of that bull market, five years previously.

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