exactly - what moron came up with that simple down 20% defines a bear market that you hear on CNBC - A bear market is not some set price decline that your 5th grade kid can calculate in math class. 

    Bear markets: combination of price decline with a sufficient amount of time that it causes a major change in the collective investor psychology, and also a change in stock leadership - once the bear is over new stocks lead, not the ones of the previous bull market

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