THIS IS CRAZY. We are in one of the LARGEST secret Bear Markets in history 220 S&P 500 stocks are down 20%+ from their 52-week highs. That’s 44% of the index. 40 are down 40% or more. HALF of $SPX is in a BEAR MARKET Meanwhile, the S&P 500 had gained roughly 15% over the previous year. And the damage goes beyond $SPY: • Roughly 1,464 Nasdaq-listed stocks. • Roughly 1,620 Russell 3000 stocks. Imagine watching $SPY and $QQQ while the individual stocks you own are getting absolutely wrecked. That’s why so many portfolios feel like they’re already in a bear market. And the recovery math is brutal: Down 20% -> needs +25%. Down 40% -> needs +67%. Down 50% -> needs +100%. Just to get back to even.
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