There have been three long-term bear markets since 1902, each lasting an average of 14.5 years, and each including at least three short-term bear markets with declines of 20% or more, according to Mr. Timmer.
I've written in the past about my concern that the Android platform is fragmenting much like desktop Linux has over the years, and the potential for the platform to turn into a patchwork of devices and vendor specific modifications that bear little relationship with each other.
On Monday morning, JPMorgan Chase and Bear Stearns announced that JPMorgan will each share of Bear Stearns stock will now be exchanged for 0.21753 shares of JPMorgan, up from 0.05473 shares.
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Each has suffered more than I could ever bear.
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Cyclical bull markets returned the Dow to 1000 numerous times, but each time a cyclical bear market took back the gains.
And if you take that risk away from the Medicare program and say that each individual will bear it, it does reduce spending.
An interesting divergence given that global economies historically experience boom times and retrenchments, as well as bull and bear markets, pretty much in lockstep with each other.
Each of the three bear markets preceding the current one has that same characteristic.
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And they wore it well, with their designer suits that barely were ruffled when they each engulfed Roger Goodell in the now traditional bear hugs between draftee and commissioner.
Two full-fledged recessions in the economy in the subsequent eight years, two severe bear markets, with the market losing 50% of its value in each.
"Our highest priority is to continue to earn your trust and confidence each and every day, " Bear Stearns wrote in a note to hedge fund clients.
Each was followed by another cyclical bear market that took the market back down to its lows.
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As we work to revitalize our economy, it is essential that each of us can bring our talents, expertise, and passion to bear in the marketplace.
If so, keep in mind that it would not change the fact that particularly in secular bear markets, the cyclical bull markets tend to run into significant declines in their unfavorable seasons each year.
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That inconvenient truth is that even when London Interbank Offered Rates are not "fixed", they may still not bear very much relation to reality - because banks are not actually offering much unsecured money to each other at all.
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