A bear market is when securities prices suffer a 20% decline from recent highs

The term describes a generally hostile environment for certain assets in which investors hold a negative outlook on the market

It's not clear how the term was born, but investors tend to refer to a hostile or declining market as a bear market and a favorable or rising market as a bull market

Both bull and bear markets are part of the natural movements of markets. No assets move consistently in only one direction

Bear markets are relatively common, happening at a pace of once every three or four years on average based on U.S. stock market history

The duration of a bear market depends on the circumstances of the marketplace. Of all the bear markets for U.S. stocks since 1928

A popular refrain among active investors is that there's always a bull market somewhere. In other words, even in the toughest times

Tactical investors can make a bundle by moving out of one unfavorable asset and into a better one