You make most of your money in a bear market, you just don’t realize it at the time.
Shelby Cullom Davis
The above quote from Shelby Cullom Davis is worth remembering, as bear markets inevitably lead to investors losing faith with the stock market. As stock market prices stagnate, however, quality stocks become better value as gradually improving company earnings, arising from a steady improvement in trade and employment, are not fully reflected in equity prices. For long-term investors, providing that they have cash to put to work, the ability to buy good quality stocks cheaply ahead of a new bull market is a twice in a lifetime opportunity.
The lower the price initially paid, ...