Tags: bull | market

Bull Market Around the Corner

By Michael Kling   |   Monday, 13 Oct 2008 02:59 PM

A bull market is near, predicts veteran investment advisor Alan Steel, in an editorial in the Daily Telegraph.

"Personally, I reckon the next bull market is round the corner," the chairman of Alan Steel Asset Management writes.

He bases his prediction on his observations of past market performances.

In October 1973, the stock market crashed and the world economy seemed ready to implode the following year, recalls Steel. But stocks jumped 25 percent in January 1974, and then doubled within a year.

"In my career, similar scares have rolled along with monotonous regularity," Steel writes.

Take the recession of 1980, stock market crashes in 1984 and 1987, and recessions and stock crashes in the 1990s, plus the dot-com bubble bust.

Stocks usually win over the long term, Steel notes. Over the last 60 years, there were 13 bear markets lasting 13 months on average. Stocks fell 29 percent on average in each bear market.

There were also 13 bull markets, but they lasted twice as long, and average gains were 92 percent.

Anthony Bolton, the legendary former manager of Fidelity Special Situations Fund agrees. He's called a bottom and is buying.

"I have bought shares in the last couple of weeks for the first time for some time. I see a lot of value in certain areas of the market," he told the BBC Today show.

© 2017 Newsmax Finance. All rights reserved.

1Like our page
2Share
StreetTalk
A bull market is near, predicts veteran investment advisor Alan Steel, in an editorial in the Daily Telegraph. "Personally, I reckon the next bull market is round the corner," the chairman of Alan Steel Asset Management writes. He bases his prediction on his observations of...
bull,market
226
2008-59-13
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved