Two Types of Bear Markets

By Ben Carlson
Jul 29, 2026

Bear markets can be divided into two types. They stem from different causes and have distinct characteristics. Understanding the differences can be helpful for your long-term investing success.

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Written by

Ben Carlson

Ben Carlson

Excerpted with permission from Risk & Reward: How to Handle Market Volatility and Build Long-Term Wealth by Ben Carlson (Harriman House, 2026). Ben Carlson manages portfolios for institutions and individuals at Ritholtz Wealth Management LLC and writes the investment blog, A Wealth of Common Sense: awealthofcommonsense.com.

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