About 40 years ago, I read an article about stock market cycles. It didn't seem credible to me then. After studying them intently the last three months, cycles look like one of the missing pieces of the puzzle. They appear to explain my biggest investing mistake and to be another arrow in the investment quiver.
Correlation of Economic Growth and Stock Market Return
Long-term stock market investors shouldn't worry much about the economy. The greatest advances in prosperity come from seeds planted during economic crises. Besides, long-term fluctuations in stock market returns have little relationship