"Inevitably, any attempt to break down the past down into cycles involves beginning and ending points that are, to some degree, arbitrary. Others might well divide the market's cycles somewhat differently. But virtually every market historian agrees on the larger picture: the history of the market is a story of bull and bear markets that take place against a backdrop of much longer waves—weak and strong cycles that last long enough to convince us that they are the norm."
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Original Language: English
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Maggie Mahar, (first edition, 2004)
https://en.wikiquote.org/wiki/Business_cycle
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Business cycle
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