"include issue printing, web hosting, and branded materials. The Bull & Bear The Bull & Bear is a student-run magazine at McGill University. Founded in 2003, the magazine was initially conceived as a platform for the voice of students in the Desautels Faculty of Management. In 2012, the magazine widened its scope to include McGill affairs and Montreal-wide news. ""The Bull & Bear"" publishes articles online on a rolling basis, and prints one issue per semester. Today, ""The Bull & Bear"" publishes articles in four sections: News, Arts & Culture, Opinion, and Business & Technology. It also publishes a weekly"
"percentage bullish vs. bearish indicates more risk. On January 16, 2018, Peter Boockvar said that the Investors Intelligence had the highest bull bear spread since 1986. Boockvar said that there was an extraordinary level of overboughtness. Major turns in the Conference Board’s Present Situation Index tend to precede corresponding turns in the unemployment rate—particularly at business cycle peaks (that is, going into recessions). Major upturns in the index also tend to foreshadow cyclical peaks in the unemployment rate, which often occur well after the end of a recession. Another useful feature of the index that can be gleaned from the"
"Market sentiment Market sentiment (also investor attention) is the general prevailing attitude of investors as to anticipated price development in a market. This attitude is the accumulation of a variety of fundamental and technical factors, including price history, economic reports, seasonal factors, and national and world events. If investors expect upward price movement in the stock market, the sentiment is said to be bullish. On the contrary, if the market sentiment is bearish, most investors expect downward price movement. Market participants who maintain a static sentiment, regardless of market conditions, are described as ""permabulls"" and ""permabears"" respectively. Market sentiment is"
"price causes an increase in supply, this destroys the expected negative feedback loop and prices will be unstable. This can be seen in a bubble or crash. Investor sentiment is a contrarian stock market indicator. When a high proportion of investors express a bearish (negative) sentiment, some analysts consider it to be a strong signal that a market bottom may be near. The predictive capability of such a signal (see also market sentiment) is thought to be highest when investor sentiment reaches extreme values. Indicators that measure investor sentiment may include: David Hirshleifer sees in the trend phenomenon a path"
"Advisors Sentiment The Investors Intelligence Sentiment Survey reports the attitudes of U.S. advisors. A large difference between the percentage bullish vs. bearish indicates more risk. On January 16, 2018, Peter Boockvar said that the Investors Intelligence had the highest bull bear spread since 1986. Boockvar said that there was an extraordinary level of overboughtness. Yardeni Research, Inc. posts data about the Investors Intelligence Sentiment Survey inculding the Percentage Bulls & Bears. Advisors Sentiment survey is a field of market sentiment. Advisors Sentiment was devised by Abe Cohen of Chartcraft in 1963 and is still operated by Chartcraft, now under their"
"of themselves. Advisors Sentiment The Investors Intelligence Sentiment Survey reports the attitudes of U.S. advisors. A large difference between the percentage bullish vs. bearish indicates more risk. On January 16, 2018, Peter Boockvar said that the Investors Intelligence had the highest bull bear spread since 1986. Boockvar said that there was an extraordinary level of overboughtness. Yardeni Research, Inc. posts data about the Investors Intelligence Sentiment Survey inculding the Percentage Bulls & Bears. Advisors Sentiment survey is a field of market sentiment. Advisors Sentiment was devised by Abe Cohen of Chartcraft in 1963 and is still operated by Chartcraft, now"
"by negative news and general pessimism. Along with this, although more dangerous, is shorting overvalued stocks. This requires 'deep pockets' in that an overvalued security may continue to rise, due to over-optimism, for quite some time. Eventually, the short-seller believes, the stock will 'crash and burn'. Commonly used contrarian indicators for investor sentiment are Volatility Indexes (informally also referred to as ""Fear indexes""), like VIX, which by tracking the prices of financial options, gives a numeric measure of how pessimistic or optimistic market actors at large are. A low number in this index indicates a prevailing optimistic or confident investor"
"entire population. Short-term activity in stock prices or the broader markets can frequently be compared to impulsive actions. This is seen in the term ""bull run"" which can induce investors to leap into an investment, as opposed to a ""bearish market"" that could influence a ""sell-off"". It is these types of market scenarios that can cause investors to abandon their investment strategies. Investor discipline is the ability to maintain an investment strategy even in the most tempting, or extreme conditions in the marketplace. An established and popular method for stock market investors is Systematic Investment Plans (SIPs) especially for those"
"drops, when those high expectations don't pan out. Avoiding (or short-selling) investments in over-hyped investments reduces the risk of such drops. These general principles can apply whether the investment in question is an individual stock, an industry sector, or an entire market or any other asset class. Some contrarians have a permanent bear market view, while the majority of investors bet on the market going up. However, a contrarian does not necessarily have a negative view of the overall stock market, nor do they have to believe that it is always overvalued, or that the conventional wisdom is always wrong."
"Jones Industrial Average fell 5.7%, down 34.95, the second-largest point decline then on record. Following the Wall Street Crash of 1929, speculators became more cautious and reluctant about holding on to stocks for extended periods of time. As a result, there was an increased trend of pooling on the bear side of the market—betting on stock prices to lower—and pushing stock prices down further. These bear raids allowed many Wall Street investors to make fortunes, for adequate regulation of inside information had not yet become established. Joseph P. Kennedy, a famous and prominent bear raider, had gained much of his"
"his expectation, a bull suffers a loss, frequently very large if he is trading on margin. A bull has a great incentive to ""talk-up"" the value of his stock or to manipulate the market in his stock, for example by spreading false rumour, to procure a buyer or to cause a temporary price increase which will provide him with the selling opportunity and profit he requires. A bull must therefore be contrasted with an investor, who purchases a stock in expectation of a medium-term (say 5 years) or long-term increase in value due to the underlying performance of the company"
"hope and fear are believed to alter the manner in which investors estimate other possibilities. Fear provokes investors to ask: ""How bad can it get?"", while hope: ""How good can it get?"". In this case, fear drives investors to enhance security, while hope stimulates investors to emphasise potential. One of the best available and accepted tools to measure stock market volatility is CBOE Volatility Index, elaborated by Chicago Board Options Exchange in 1993. In other words, VIX can be defined as a sentiment ratio of Wall Street's fear or greed gauge. It is usually used by traders to check the"
"the stock market has been blamed for this change in shareholder attitudes. Executive pay packages in the United States have been taken to task as excessive, lacking transparency, controlled by their beneficiaries rather than shareholders, and rewarding the executive behavior that ought to be discouraged—such as short-term profit, excessive risk-taking of the sort that leads to speculative bubbles, or just plain failure. Their detractors have included not only economists but conservative establishmentarians such as Ben Bernanke and George W. Bush, and prominent management consultants, money managers and investors such as Peter Drucker, John Bogle and Warren Buffett. The general public"
"Bull (stock market speculator) A Bull is a stock market speculator who buys a holding in a stock in the expectation that in the very short-term it will rise in value whereupon he will sell the stock to make a quick profit on the transaction. Strictly speaking the term applies to speculators who borrow money to fund such a purchase, and are thus under great pressure to complete the transaction before the loan is repayable or the seller of the stock demands payment on settlement day for delivery of the bargain. If the value of the stock falls contrary to"
"broad market indices have a downturn of 20% or more in value lasting for at least 2 months. There are two types of bull markets. A ""secular bull market"" is a period in which the stock market index is continually reaching all-time highs with only brief periods of correction, as during the 1990s, and can last upwards of 15 years. A ""cyclical bull market"" is a period in which the stock market index is reaching 52-week or multi-year highs and may briefly peak at all-time highs before a rapid decline, as in the early 1970s. It usually occurs within relatively"
"grade of investor complacency or market fear. In practice, VIX is usually called the fear index. In case of increased VIX index, investors' sentiment leans toward higher volatility which corresponds to higher risk. If a VIX reading is under 20 it usually indicates that investors became less concerned; however, if the reading exceeds 30 it implies that investors are more fearful because prices of the options increased and investors are more prone to pay more to preserve their assets. By utilising short-term near-the-money put and call options, VIX gauges suggested volatility of S&P stock market index options through the forthcoming"
"brand name of Investors Intelligence. The survey surveys independent investment newsletters (those not affiliated with brokerage houses or mutual funds). Findings are reported weekly as the percentage of advisors that are bullish, bearish and those that expect a correction. The survey is anecdotal evidence as to extremes in investor confidence, conditions which are often seen at major market turning points. The survey is often quoted in the media. In August 2009, articles in the LA Times and Wall Street Journal reported that advisors were as bearish as they were in October 2007, a warning sign that markets were getting ahead"
"CBOE Volatility Index), colloquially known as the ""fear index"" or the ""fear gauge"". The financial community and the political class try to do their best to maintain the stability of society, but they cannot fully control what all the people and all the markets are going to do. For example, a majority of Brits unexpectedly voted for a Brexit, throwing a spanner in the works. After 28 January 2018, about $4 trillion worth of stock value in stock markets disappeared in little more than a week, although the stock markets subsequently recovered. At the beginning of 2018, global cryptocurrency holdings"
"VIX The CBOE Volatility Index, known by its ticker symbol VIX, is a popular measure of the stock market's expectation of volatility implied by S&P 500 index options, calculated and published by the Chicago Board Options Exchange (CBOE) and chaired professor Dr. Robert Whaley of the Fuqua School of Business at Duke University. It is colloquially referred to as the ""fear index"" or the ""fear gauge"". The formulation of a volatility index, and financial instruments based on such an index, were discussed by Menachem Brenner and Dan Galai in 1986. They stated the ""volatility index, to be named Sigma Index,"
"3%, and would see its return ""climb"" 9% (on average) if the market's return falls by 3%. Higher-beta stocks tend to be more volatile and therefore riskier, but provide the potential for higher returns. Lower-beta stocks pose less risk but generally offer lower returns. Some have challenged this idea, claiming that the data show little relation between beta and potential reward, or even that lower-beta stocks are both less risky and more profitable (contradicting CAPM). In the same way a stock's beta shows its relation to market shifts, it is also an indicator for required returns on investment (ROI). Given"
"magnitude of the overall market; when the market's return falls or rises by 3%, the stock's return will fall or rise (respectively) by 6% on average. (However, because beta also depends on the correlation of returns, there can be considerable variance about that average; the higher the correlation, the less variance; the lower the correlation, the higher the variance.) Beta can also be negative, meaning the stock's returns tend to move in the opposite direction of the market's returns. A stock with a beta of −3 would see its return ""decline"" 9% (on average) when the market's return goes up"
"the benchmark return is negative. Downside beta and upside beta are also differentiated in the dual-beta model. Downside beta has greater explanatory power than standard beta in bearish markets. Portfolios that are constructed by minimizing downside beta may be able to maintain more of their value during times of market decline. Downside beta In investing, downside beta is the element of beta that investors associate with risk in the sense of the uncertain potential for loss. It is defined to be the scaled amount by which an asset tends to move compared to a benchmark, calculated only on days when"
"less (in terms of percent-ownership), and vice versa. In terms of value dilution, there will be none from the point of view of the shareholder. Since most shareholders are invested in the belief the stock price will increase, this is not a problem. When the stock price declines because of some bad news, the company's next report will have to measure, not only the financial results of the bad news, but also the increase in the dilution percentage. This exacerbates the problem and increases the downward pressure on the stock, increasing dilution. Some financing vehicles are structured to augment this"
"bear market. Between January 1973 and December 1974, the average lost 48% of its value in what became known as the 1973–1974 Stock Market Crash; with the situation being exacerbated by the events surrounding the Yom Kippur War. The index closed at 577.60, on December 4, 1974. During 1976, the index went above 1000 several times, and it closed the year at 1,004.75. Although the Vietnam War ended in 1975, new tensions arose towards Iran surrounding the Iranian Revolution in 1979. Other notable disturbances such as the Lebanese Civil War, the Ethiopian Civil War, the Indo-Pakistani War of 1971 and"
"interested in measures of ""sentiment"" regarding the stock among other investors, such as sell-side analyst coverage and earnings forecasts, trading volume, and media commentary about the company and its business prospects. In the example of a stock that has dropped because of excessive pessimism, one can see similarities to the ""margin of safety"" that value investor Benjamin Graham sought when purchasing stocks—essentially, being able to buy shares at a discount to their intrinsic value. Arguably, that margin of safety is more likely to exist when a stock has fallen a great deal, and that type of drop is usually accompanied"
"of $253/oz ($9/g), and became part of the Great Commodities Depression. A primary trend has broad support throughout the entire market (most sectors) and lasts for a year or more. A bull market is a period of generally rising prices. The start of a bull market is marked by widespread pessimism. This point is when the ""crowd"" is the most ""bearish"". The feeling of despondency changes to hope, ""optimism"", and eventually euphoria, as the bull runs its course. This often leads the economic cycle, for example in a full recession, or earlier. An analysis of Morningstar, Inc. stock market data"
"are also reported to draw investors’ attention (Barber & Odean (2008)). Noise traders tend to buy (sell) stocks with high (low) returns. Whaley (2001) and Baker & Wurgler (2007) suggest Chicago Board Options Exchange (CBOE) Volatility Index (VIX) as an alternative market sentiment measure. Credit Suisse Fear Barometer (CSFB) is based on prices of zero-premium collars that expire in three months. This index is sometimes used as an alternative to VIX index. The Acertus Market Sentiment Indicator (AMSI) incorporates five variables (in descending order of weight in the indicator): Price/Earnings Ratio (a measure of stock market valuations); price momentum (a"
"lower than the peak of the rising market. Therefore, you constantly stand to benefit in the long run because even if the market falls in the future, it will gradually recover and make new highs (higher than the current high). Falling Market: let’s now talk about the second situation- a market correction or bear market. Bear market or falling market would always be stressful for all investors, such as new investors who recently started SIP in January (these investors started SIP on the say of their friends, like in 2017 equity market has given return of 30%+, and in the"
"Another weakness of beta can be illustrated through an easy example by considering two hypothetical stocks, A and B. The returns on A, B and the market follow the probability distribution below: The table shows that stock A goes down half as much as the market when the market goes down and up twice as much as the market when the market goes up. Stock B, on the other hand, goes down twice as much as the market when the market goes down and up half as much as the market when the market goes up. Most investors would label"
"share (i.e. a loss of $5 per share). The loss is due to speculation that the price would go down but it actually did not. A bear put spread is a limited profit, limited risk options trading strategy that can be used when the options trader is moderately bearish on the underlying security. It is entered by: The options trader hopes that the price of the underlying drops, maximizing his profit when the underlying drops below the strike price of the written option, netting him the difference between the strike prices minus the cost of entering into the position. Bear"
"black swan event or market crash. The index value typically reflects trading activity of portfolio managers hedging tail risk with options, to protect portfolios from a large, sudden decline in the market. A SKEW value of 100 indicates the options market perceives a low risk of outlier returns; values increasing above 100 reflect an increased perception of risk for future outlier event(s). SKEW SKEW is the ticker symbol for the CBOE Skew Index, a measure of the perceived tail risk of the distribution of S&P 500 investment returns over a 30-day horizon. The index values are calculated and published by"
"other's cues, it is easier for panic to take hold and affect the market. This work is a mathematical demonstration of a significant advance warning sign of impending market crashes. A recent phenomenon, known as the RR Reversal, has also been well documented in recent years – where a rapidly increasing stock experiences an inexplicable and sudden pullback to the magnitude of 10 – 40% within a month. In 1907 and in 1908, the NYSE fell by nearly 50% due to a variety of factors, led by the manipulation of copper stocks by the Knickerbocker company. Shares of United Copper"
"in recent years included: 2013 +30%; 2014 +11%; 2015 -1%; and 2016 +10%. The U.S. stock market has grown consistently since its low point in March 2009, without a 20% ""correction"" or bear market through August 2018, arguably the longest ""bull market"" in U.S. history. It climbed 320% from its trough on March 9, 2009 through August 2018. However, about half of Americans have not participated in this bull market. In March 2017, NPR summarized the distribution of U.S. stock market ownership (direct and indirect through mutual funds) in the U.S., which is highly concentrated among the wealthiest families: NPR"