1
00:00:03,720 --> 00:00:06,000
Speaker 1: Welcome to Ask Fear and Greed, where we take your

2
00:00:06,120 --> 00:00:07,880
Speaker 1: questions and do our best to answer them.

3
00:00:07,920 --> 00:00:10,360
Speaker 2: I'm Michael Thompson, and good afternoon, Sean.

4
00:00:10,080 --> 00:00:12,000
Speaker 3: Aylmer, Good afternoon, Michael.

5
00:00:13,119 --> 00:00:13,480
Speaker 2: Sean.

6
00:00:13,720 --> 00:00:18,000
Speaker 1: Today's question comes to us from Sean. But this is

7
00:00:18,040 --> 00:00:20,520
Speaker 1: a different Sean. He spells his name s h a

8
00:00:20,880 --> 00:00:24,279
Speaker 1: u N still like him. Do you consider that to

9
00:00:24,320 --> 00:00:26,680
Speaker 1: be the incorrect spelling of the name Sean?

10
00:00:26,800 --> 00:00:29,040
Speaker 3: No, no, no, not at all. It's just not correct.

11
00:00:29,160 --> 00:00:30,880
Speaker 3: I'm not going to say incorrect, It's just not correct.

12
00:00:30,960 --> 00:00:32,440
Speaker 2: Okay, all right, all Sean's night.

13
00:00:32,800 --> 00:00:39,440
Speaker 1: Anyway, Sean a un has dropped a message on Instagram

14
00:00:39,440 --> 00:00:43,120
Speaker 1: and he says, Hi, team great show one for Ask

15
00:00:43,280 --> 00:00:45,440
Speaker 1: Fear and Greed. Correct me if I'm wrong. But have

16
00:00:45,560 --> 00:00:49,839
Speaker 1: you ever explained the terminology bull and bear markets? The

17
00:00:49,840 --> 00:00:54,040
Speaker 1: ASX has been hitting records left, right and center. So

18
00:00:54,240 --> 00:00:56,000
Speaker 1: are we in a bull market?

19
00:00:59,200 --> 00:01:02,279
Speaker 3: Fair question? Firstly, I don't think we ever have explained

20
00:01:02,400 --> 00:01:08,600
Speaker 3: bull and bear markets? Second, what are they so? A

21
00:01:08,640 --> 00:01:12,520
Speaker 3: bull market is to fined as a twenty percent rise

22
00:01:12,920 --> 00:01:17,279
Speaker 3: from the sort of the bottom the low to the peak,

23
00:01:17,959 --> 00:01:21,039
Speaker 3: and a bear market is a twenty percent drop from

24
00:01:21,080 --> 00:01:25,399
Speaker 3: the peak to the bottom. In a relatively small timeframe,

25
00:01:25,480 --> 00:01:29,080
Speaker 3: so probably about two months, so you know, over two

26
00:01:29,160 --> 00:01:32,480
Speaker 3: or three years, we're up twenty percent over the last

27
00:01:32,520 --> 00:01:35,080
Speaker 3: two months, so we're up less than ten percent. So

28
00:01:35,400 --> 00:01:37,760
Speaker 3: when you're talking about bull and bear markets, the official

29
00:01:37,760 --> 00:01:41,160
Speaker 3: definition is twenty percent up twenty percent down. Having said that,

30
00:01:41,280 --> 00:01:44,119
Speaker 3: we always talk about bullmarkets beer markets, and it's used

31
00:01:44,200 --> 00:01:50,960
Speaker 3: really liberally, so it's not something that people stick to.

32
00:01:51,040 --> 00:01:53,400
Speaker 3: They say, you know, this is a bear market. It's

33
00:01:53,440 --> 00:01:55,840
Speaker 3: probably not actually technically a bear market because it hasn't

34
00:01:55,840 --> 00:01:56,960
Speaker 3: gone down twenty percent.

35
00:01:57,320 --> 00:01:59,560
Speaker 2: So really it's quite specific, then, isn't it.

36
00:01:59,480 --> 00:01:59,960
Speaker 1: It is?

37
00:02:00,120 --> 00:02:00,400
Speaker 3: It is.

38
00:02:00,640 --> 00:02:02,800
Speaker 1: It gets tossed around a bit, but it is actually

39
00:02:02,880 --> 00:02:04,200
Speaker 1: quite a specific definition.

40
00:02:04,720 --> 00:02:07,480
Speaker 3: Yeah, it is quite a specific definition. So that's kind

41
00:02:07,480 --> 00:02:09,520
Speaker 3: of how it is. What I like is where it

42
00:02:09,560 --> 00:02:10,079
Speaker 3: comes from.

43
00:02:10,120 --> 00:02:12,600
Speaker 1: Though, I was going to ask you about this because

44
00:02:12,600 --> 00:02:14,760
Speaker 1: I'm sure there is a story behind it. It's not

45
00:02:14,760 --> 00:02:16,840
Speaker 1: one of those things that just appears kind of naturally.

46
00:02:16,880 --> 00:02:18,480
Speaker 1: There has got to have been an origination.

47
00:02:18,880 --> 00:02:21,919
Speaker 3: So I think there are a bunch of apocryphal stories.

48
00:02:21,960 --> 00:02:23,560
Speaker 3: I don't know if this is one or not, but

49
00:02:23,600 --> 00:02:27,600
Speaker 3: the idea is that how bulls and bears attack things,

50
00:02:28,120 --> 00:02:31,960
Speaker 3: so bulls attack by bringing their horns upward. So therefore,

51
00:02:31,960 --> 00:02:35,200
Speaker 3: when the market's going up, it's a bull market. Okay,

52
00:02:35,800 --> 00:02:40,320
Speaker 3: bears attacked by swiping their paws downward, so that's a

53
00:02:40,360 --> 00:02:44,840
Speaker 3: down market, I know. I believe that. Another one was

54
00:02:44,880 --> 00:02:47,760
Speaker 3: in the eighteenth hundreds, goods and services were exchanged for

55
00:02:47,960 --> 00:02:51,680
Speaker 3: other goods and services like bartered away. So people who

56
00:02:51,680 --> 00:02:55,680
Speaker 3: have sold bear skins they didn't own yet, we're called

57
00:02:56,080 --> 00:02:59,440
Speaker 3: bears because so what you do is say, you know,

58
00:03:00,160 --> 00:03:03,600
Speaker 3: next winter, we're going to sell these bear skins, and

59
00:03:03,639 --> 00:03:05,440
Speaker 3: they go and kill the bears, get the bear skins,

60
00:03:05,480 --> 00:03:09,400
Speaker 3: and sell them. They often did that because they sold

61
00:03:09,480 --> 00:03:12,960
Speaker 3: ahead of time, because I expected bear skin prices to fall.

62
00:03:13,680 --> 00:03:16,120
Speaker 3: So that's kind of where the bear came in. And

63
00:03:16,280 --> 00:03:20,120
Speaker 3: bulls were considered the opposite of bears, and therefore bulls

64
00:03:20,160 --> 00:03:23,720
Speaker 3: go up. They bought assets with the expectations that prices

65
00:03:23,720 --> 00:03:25,520
Speaker 3: would rise. I don't know whether that's true or not,

66
00:03:25,639 --> 00:03:27,760
Speaker 3: but I kind of like that story.

67
00:03:27,800 --> 00:03:28,760
Speaker 2: Oh you don't know.

68
00:03:29,720 --> 00:03:31,959
Speaker 1: I just don't buy the idea that bulls are the

69
00:03:32,000 --> 00:03:34,359
Speaker 1: opposites of bears. Like to me, the opposite of bear

70
00:03:34,400 --> 00:03:37,760
Speaker 1: would be like a bee or an ant or something

71
00:03:37,800 --> 00:03:39,920
Speaker 1: that's a full opposite of a bear?

72
00:03:40,280 --> 00:03:41,400
Speaker 3: What's the opposite to a bull?

73
00:03:42,720 --> 00:03:47,520
Speaker 2: Probably a cat, I would suspect.

74
00:03:47,720 --> 00:03:50,600
Speaker 1: I'm no expert on this, but I just love the idea.

75
00:03:51,280 --> 00:03:54,320
Speaker 1: I'm on board with the first explanation that you gave.

76
00:03:54,520 --> 00:03:59,080
Speaker 1: The method of attack, the bulls kind of lifting their.

77
00:03:58,280 --> 00:04:01,800
Speaker 3: Hands up listeners. You can't actually see Michael at the moment,

78
00:04:01,800 --> 00:04:04,040
Speaker 3: but he's actually moving his head in the yeah manner.

79
00:04:04,280 --> 00:04:08,400
Speaker 1: Yeah, swamping furiously at the microphone. And then the bears

80
00:04:08,600 --> 00:04:10,960
Speaker 1: kind of with the pause going to necess but if

81
00:04:10,960 --> 00:04:15,920
Speaker 1: a bears like flipping a table. So yeah, Anyway, Sean,

82
00:04:16,240 --> 00:04:18,960
Speaker 1: I feel like we have answered the question sufficiently.

83
00:04:19,800 --> 00:04:22,000
Speaker 2: Probably took about only just or two minutes that we

84
00:04:22,040 --> 00:04:22,599
Speaker 2: didn't need to.

85
00:04:22,720 --> 00:04:23,160
Speaker 3: Yeah.

86
00:04:23,200 --> 00:04:25,080
Speaker 1: I think it's like we've just managed to scrape by

87
00:04:25,160 --> 00:04:27,719
Speaker 1: on this one. B minus is our mark for today.

88
00:04:28,320 --> 00:04:29,839
Speaker 3: Fair enough, being generous for ourselves.

89
00:04:29,920 --> 00:04:33,200
Speaker 2: Good yep. Indeed, thank you Sean, Thank you a U

90
00:04:33,360 --> 00:04:34,960
Speaker 2: N for your question.

91
00:04:35,080 --> 00:04:37,039
Speaker 3: Yeah, then I thank you s H a U N.

92
00:04:37,320 --> 00:04:39,480
Speaker 2: And thank you Michael, and thank you Sean for answering it.

93
00:04:39,520 --> 00:04:41,200
Speaker 1: If you have your own question that you would like

94
00:04:41,279 --> 00:04:46,320
Speaker 1: us to answer, then please send it on through via LinkedIn, Instagram, Facebook,

95
00:04:46,400 --> 00:04:48,080
Speaker 1: or you can head to Fear and Greed dot com

96
00:04:48,240 --> 00:04:50,800
Speaker 1: dot au and send it through the website if you like.

97
00:04:50,880 --> 00:04:53,359
Speaker 2: I'm Michael Thompson and this is ask Fear and Greed.