Secular market

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Secular Market

A market as defined by its overarching, long-term trends. Generally, a secular market refers to trends over a period of five or more years. A secular market may be bullish or bearish, and, in market analysis, takes precedence over opposite, short-term trends that happen within the secular market. For example, the Great Depression in the United States lasted from 1929 until World War II (certainly a bearish secular market). Even though some years saw significant GDP growth (including 14.2% growth in 1936), this did not prevent the secular market from being bearish. Thus, a secular market describes general trends in the market without regard for anomalous trends in the interim. See also: Cyclical market.
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Secular market.

A secular market is one that moves in the same direction -- up or down -- for an extended period.

Benchmark indexes continue to rise to new, higher levels during a secular bull market despite some short-term corrections. Similarly, during a secular bear market, index levels decline or remain flat despite short-term rallies.

In addition, the average price-to-earnings ratio increases substantially during a secular bull market before reaching a top and falls during secular bear markets before hitting a bottom.

Secular markets tend to move in cycles, or predictable though not regular patterns, so that a secular bull market is followed by a secular bear market, which is followed by a secular bull market, and so on.

For example, the bull market of 1982 through 1999 followed the bear market of 1966-1981. The length of secular markets varies, from as few as 4 or 5 years to more than 20 years, though when one begins and ends becomes clear only in retrospect.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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Twenty-four contributions from the 71st Nestle Nutrition Institute Workshop (October 2011; Vienna, Austria) are arranged in sections corresponding to the sessions: drivers of growth, secular trends in growth, and healthy growth.
Russia also hasa huge reserve of fresh water in Lake Baikal and pasture land across Siberia.Growth in emerging markets is becoming ever more intertwined, with multi-decade secular trends offering enormous opportunities for those with foresight.
A recording was released online of a secret meeting between the head of Tunisia's dominant Islamist party, Nahda, and Salafists, discussing shared goals on fighting secular trends. Tunisia shook a dictatorship in early 2011, but far-right politicians do not seem content with sharing power.
This approach allows us to maintain the assumption of proportional hazards and to finely adjust for lung cancer secular trends and attained age but does not adjust twice for year of birth within the same model.
In their report entitled Feeding the World: The Economics of Food, Fidelity Investments concludes that meeting the requirements of a growing population is a major challenge and that by investing in 'companies that allow us to grow or create more food, investors should be able to take advantage of these secular trends.' For now the best thing than can be said for agricultural investment funds such as this is that they are a specialist investment that might make up a small part of a diverse portfolio.
However, moderate Islamists, liberals and secular trends were in favour of retaining the wording of the l971 constitution which underlines the 'principles' of Islamic Sharia as the major source.
In regression modeling that controlled for secular trends and other confounders, the increased insurance rates had a positive but nonsignificant effect on ED visits among those under age 65 (P = .09) and a significant, positive impact on those over 65 (P = .01).
The transaction is valued at $83 million, which the company says will deploy "substantial new capital to accelerate growth and target several important secular trends."
(10.) Euling SY, Herman-Giddens ME, Lee PA, et al: Examination of US puberty-timing data from 1940 to 1994 for secular trends: Panel findings.
In fact, it is more than four times the average change in consumption observed in the data." In stating this, they confuse a secular trends analysis (i.e., changes in a population) with a cohort design such as ours that examines individuals over time.