There is no bear market memory and that is a problem

There is truth in this comic. The memory of many investors is very short-term. There is an over-emphasis on the immediate with less focus on the historical. There was the crisis of March 2020 associated with the pandemic, but it only lasted a month. We really must go back to the GFC to have major bear market. Think about it. It has been 16 years since the market crisis associated with Lehman Brothers. You may have worked on Wall Street for 15 years and never traded or dealt with Lehman or Bear Stearns. 

What will investors do when the bear market comes? It is hard to say but panic seems like a good word. The markets seem to panic at the first signs of a market pullback and immediately look for some relief. 

I cannot forecast the next bear market, but it is critical to have a plan if it does happen.