Bear markets (BM) are painful. Since the 50s, US bear markets have resulted in an average loss of 31% (most painful were Oct-07 at 57%, Mar-00 at 49% and Jan-73 at 48%).
Of course, timing the market is futile and doesn’t help the investor over the long run. It’s more important to have a clear view on the value of any financial asset and seize it when it trades with a margin of safety.
But understanding the market dynamics and the financial environment might be helpful, especially if you want to be able to take advantage of the next downturn.
Goldman Sachs published an in-depth report on the characteristics of bear markets and what signals investors should track to try and anticipate them.