What is a Secular Bull Market?

To our firm it is “Nirvana”. A secular bull market happened from 1945-1965 then from 1974- 2000. The market moves in an upward trend anywhere from 10 to 25 years. Along the way there will be corrections and bubbles, but they do not necessarily cause an end to the bull market. There are also secular bear markets. The term “secular” just means “long-term” and bull or bear is whether the market is growing in an upward trend or declining on a downward trend. Currently we believe based on technical and fundamental indicators that we have been in a strong upward trend for growth stocks since 2012.