Bull market

Börseab 9 J.

A phase of rising stock prices (more than 20% up from the low). The bull thrusts its horns UPWARDS. Historically, bull markets last 6 years on average.

A bull market is a phase in which share prices rise over a longer period – technically defined as a rise of at least 20% from the last low.

Why a bull? The bull thrusts upwards with its horns – like rising prices.

Historical bull markets:

• 2009–2020: the longest bull market in history (11 years!). S&P 500: +400%
• 2020–2021: coronavirus recovery. DAX from 8,400 to 16,000 in 18 months
• 2023–2025: AI-driven bull market (NVIDIA, Microsoft)

Typical features:

• Rising corporate profits
• Low unemployment
• Optimism and FOMO among investors
• Rising valuations (P/E ratio rises)
• New investors flock to the stock market

Caution at the end of a bull market: when "everyone" is talking about shares and taxi drivers are giving stock tips, the peak is often near. But: bull markets last 6 years on average, bear markets only 1.5 years. In the long run, it always goes up.

Did you know? The longest bull market in history lasted from March 2009 to February 2020 – almost 11 years without interruption. Anyone who invested at the low would have multiplied their money sixfold.

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