please read this and prepare accordingly, page-57

Chinese stockmarket means nothing. Complete gambling mentality. People used dice and dartboards to buy stocks.

So, Aurelius, you think this will be worse than the tech wrech and be amongst the worst bear markets ever seen second to the great depression? Already down 30%. You know of course that in every bear market there are ALWAYS people like you that say the world is about to fall into depression, the game is over...yada yada....yet a few years later a new high is reached.

Here we have OST, BHP, JBH, CBA, DJS upgrading profits....and many others posting record profits. Something is not right here.

I was bearish a long time. I am a contrarian. Now I have become bullish. Can't be bearish all your life.

Over the last 40 odd years there have been a few occasions where the share market fell more than 20%. A few of these occasions have seen Mega-Bear markets with falls of around 40%. 1970-71, 1973-74, and 1980-82 were periods of massive inflation, high unemployment and real negative growth. In these periods the market fell slightly more than 40%. During these periods people thought the world would fall into depression although it never eventuated and the markets eventually recovered and went onto new highs.

The average fall for a bear market is around 30% and can last anywhere from a few months to a few years. They can be relatively quick such as the 1987 crash or drag on like 1989-1991 which lead to “the recession we had to have” in 1991-92.