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Never-Ending Opportunities

“There’s always a bull market somewhere” might have become a cliché, but it’s certainly true. For example, consider the 2000–2002 bear market—one of the drearier times in stock market history—when average investors lost 50% or more of their retirement assets. However, those who turned to opportunities in utilities, real estate, and precious metals might have avoided loss and instead reaped double-digit returns. Table 1.1 offers a few examples from this dichotic period, to illustrate this point.

Table 1.1. Areas That Outperformed in Bear Markets
2000S&P 500Home constructionOilUtilities
 −10.1%70.3%64.3%53.1%
2001S&P 500Home constructionSouth KoreaMexico
 −13%37.2%44.6%14%
2002S&P 500Commodity Tracking IndexOilEnergy
  32%44%44.3%
2007S&P 500SteelBrazilOil
  83.1%72.5%46.8%
2008S&P 500YenGoldDollar
 −38.5%22.9%5.1%4.2%



  

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