Has the adviser performed well in bull and bear markets?
这位顾问是否在牛市和熊市都表现出色？
If they set up their accounts to send money into stocks each month, those accounts tend to keep doing so through bull and bear markets alike. That may provide some support to stocks.
如果他们将自己的帐户设置成每月向股市投入资金，那么不论是牛市还是熊市，他们帐户内的资金都会均匀流向股市，这倒有可能给股市提供些许支撑。
Other strategies, such as "buying the winners" year after year are also not very good because the region is prone to volatile markets and sharp swings between bull and bear periods.
其它策略也不太奏效，如年复一年的“追涨杀跌”，因为亚洲地区的股市易于波动，常在牛市期与熊市期之间剧烈摇摆。
I don't panic in bear markets, and bull markets make me uncomfortable.
我对熊市并不恐慌，牛市却会让我感到不舒服。
Instead, the governing theory of Ed Easterling, head of Crestmont Research in Dallas, is that markets follow secular bull and bear cycles.
不仅如此，根据达拉斯克莱斯蒙研究所(Crestmont Resaerch)所长埃德·伊斯特林(EdEasterling)的“支配理论”(governing theory)，市场遵循的是长期牛市与长期熊市的周期。
Instead, the governing theory of Ed Easterling, head of Crestmont Research in Dallas, is that markets follow secular bull and bear cycles.
不仅如此，根据达拉斯克莱斯蒙研究所(Crestmont Resaerch)所长埃德·伊斯特林(EdEasterling)的“支配理论”(governing theory)，市场遵循的是长期牛市与长期熊市的周期。
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