Third, dummy variable D_1 was included. The contribution to the earning rate of fund by different market conditions (bull and bear) was considered.

第三，添加了哑变量d_1，对于处于股市的不同阶段(牛市和熊市)可能对基金收益产生的贡献给予不同的权重。

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That trend is likely to accelerate, especially if a bear market takes hold, and get-rich-quick fund investors start getting poorer.

ECONOMIST: American investing

The bear market has made many companies determined to limit their exposure to risky pension-fund obligations.

ECONOMIST: The companies with the biggest holes in their pension funds

Hennessy Advisors (otcbb: HNNA.OB - news - people ) and the manager of the Hennessy Focus 30 fund, which has defied the bear market with strong returns over one, three and five years.

FORBES: Steve Forbes Interviews Neil Hennessy