S&P 500 bull markets have historically outweighed bear market losses

The article argues that the S&P 500’s long-term bull markets have historically more than offset the losses from bear markets. Based on Merrill/BofA cycle data since 1949, average bull markets gained 191.6% over 66.4 months, while average bear markets fell 34.7% over 13.6 months. The current bull market, which started in October 2022, is described as having risen 109.7% over 44.6 months so far. The takeaway for investors is that despite sharp drawdowns, historical recoveries have tended to be larger and longer than declines, supporting a constructive long-term outlook for U.S. equities.