bear

The party is in full swing.  People are swinging from the chandeliers and singing "Stairway to Heaven".

It is a great time to take a break and go home. Heck, it has been one hell of a party, but I don't need any more liquor. 

Mark Hulbert is looking at bear markets in the past as a proxy for the future.  He is essentially saying that bear markets usually don’t last very long. “You only have to feel the pain for a short time.”