The second longest bull market in history has been a tremendous ride. But like all good things, it too will someday come to an end. And I have been of the long-held view that the relentless post crisis rally has been built on the sand of monetary stimulus instead of the rock of sustainable economic growth. As a result, I believe the markets require one final bear market cleansing to wash out the remaining excesses and finally arrive at the dawn of a new great secular bull market phase. While I have spent a great deal of time focusing on what the next cyclical bear market will look like and how it will unfold, I believe it is now becoming increasingly worthwhile to begin considering what some of the new bullish opportunity sets that may evolve along the way as we move toward the cyclical bull market peak, through the next cyclical bear market and beyond toward this new secular bull market dawn.
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