When is a bear market a bull market?
When percentages are used to measure returns
Bloomberg has the following headline.
Bloomberg Headline
This is the chart of Brent Crude, and I guess if you were to define a bull market at a 20% gain, the move from the low to the high shows that Brent Crude is up an impressive 24.72% from the low. Nice move.
However, if you looked at the percentage change from the high in 2014, the price is still -47.98% from the high (see chart below). That looks and feels bearish to me.
Brent Crude daily chart.
So if a 20% gain is a bull market and a 20 % loss is bear market, I guess we have both.
The Bull and Bear
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