From Proverbs to John Lennon, many people have said it – and the last nine months have been a reminder of its truth: life happens when you are making other plans.
According to investment bank Morgan Stanley, there are several historical instances of bear-market rallies that exceeded the 20% threshold, only to eventually give way to new lows.
"While it is certainly possible for this rally to evolve into a full-fledged bull market, historical precedent suggests it is far from a foregone conclusion."
"This is a golden opportunity to use this bear-market rally to de-risk in advance of potentially very painful losses over the next six, nine, 12 months," Troy Gayeski said.