Volume 15: The Lockshield Letter
Jan 2, 2026
Episode 2: Bear Markets
Bear Markets Explained + Smart Moves
Episode Description
In Episode 2 of the Lockshield Partners Podcast, we break down bear markets—what they are, why they happen, and how long they typically last.
Historically, bear markets can be caused by a wide variety of major events like the tech bubble, housing crisis, and COVID, but the definition stays the same: a 20% decline from an all-time high in a market index. On average, bear markets last about 14 months, occur roughly every 5½ years, and see an average decline of around 33%.
Instead of fearing bear markets, this episode focuses on how they can create opportunity. Bear markets are uncomfortable, but they’re also part of long-term investing. This episode is about staying disciplined, thinking long-term, and using these downturns to your advantage.
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