Mark Hulbert: Here’s what it takes to weather a major bear market and then buy stocks on the cheap

Perhaps the most important key to the long-term success of your stock market strategy is whether you will stick with it through a bear market. That’s because you can have the theoretically best strategy on the planet and still lose money if you bail at the bottom of the next bear market.

Yet determining your bear-market behavior is surprisingly difficult. Most investment firms try to do this by asking you to fill out one of the many “risk” questionnaires that may vary slightly in detail but for the most part are identical. They ask questions such as the length of your investment horizon and whether you worry more about not losing money than about not making lots of money.

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