Week 31 Day 2: Bear Markets: The Price of Admission

Bear markets (declines of 20%+) are not bugs in the system -- they are features. They are the price you pay for the privilege of earning 10% average annual returns. If stocks never went down, everyone...

Bear markets (declines of 20%+) are not bugs in the system -- they are features. They are the price you pay for the privilege of earning 10% average annual returns. If stocks never went down, everyone would buy them, and returns would be zero.