Lately, my private messages have mostly fallen into two categories: those from people wanting to continue learning and consolidating their knowledge during this downturn, and those discussing bull-bear cycles. I reply thoughtfully to all the more attentive readers. Regarding cycles, everyone's understanding and definition of a bear market differs. In my view, only a sustained downward trend lasting more than a year and with a drop exceeding 50% can be considered a bear market cycle; both conditions must be met simultaneously.

The teacher's words were very helpful.