Bull Markets: Fear of missing out.
Bear Markets: Fear of being in.
Bull Markets: I knew I should have had more of my portfolio in stocks.
Bear Markets: I knew I should have had more of my portfolio in bonds.
Bull Markets: That guy’s been calling for a crash for years — he’s an idiot.
Bear Markets: That guy just called the crash — he’s a genius.
Also worth a 2-minute read is Michael Batnick’s blog post “You Are Owed Nothing” which highlights the realities of investing in stocks.