Monday, February 9, 2015

WSJ: What is a Secular Bull Market?

By SIMON CONSTABLE

Lately, there has been a lot of talk about a “secular bull market” for stocks. It definitely sounds promising. But what exactly does it mean?

In short: It describes a long-term bull market.

“Think about a halcyon economic situation that keeps corporate profits high and extends for a long time,” says Jeremy Hill, managing partner at New York-based asset-management firm Old Blackheath Cos. At such a time, stocks have the wind at their back, with solid economic growth driving higher and higher earnings. However, during the long life of a secular bull market, stocks occasionally will fall back before resuming their climb, Mr. Hill says. See original story here.

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