Secular cycles are the long periods - as long as decades - that come to define each market era. These cycles alternate between long-term bull and bear markets.

Based on a lifetime of observations and a few decades in the markets, I understand that societies, beliefs and fashions all move in long arcs of time. We call these arcs several things: cycles, periods, eras.

I've had, like, four long-term boyfriends. I tend to be in relationships for long periods of time.

When you're a boxer, there is a lot of downtime and long periods of inactivity.

Long periods of recession, which tend to be self-perpetuating, are usually ended by war, or by preparations for it.

I think riots happen when communities are under pressure for long periods of time. That's not a mistake.