or could know. The broker, wiser than he realized, chose not to
serve up the windy non-answer that fills so much cable TV time today:
“Well,” he didn’t speculate, “the bear market
will end when the Watergate crisis is resolved and the Federal Reserve
gets its arms around the inflation problem and business activity
shows convincing signs of a pickup.” Instead, he blurted the
truth that bear markets end when investors give up hope.