Marc Faber : Great Market bottoms, which offer lifetime buying opportunities, occur quite soon after devastating Market Crashes

Marc Faber : "Conventional wisdom has it that great market bottoms, which offer lifetime buying opportunities, occur quite soon after devastating market crashes. But, as Russell shows in this book, great bear markets have long life-spans.. at its 1921 low, the Dow Jones Industrial Average was no higher than it had been in 1899 ? 22 years earlier ? while during that period nominal GDP had increased by 383% and real GDP by 88% ! Similarly, by August 1982, the Dow was no higher than it had been in April 1964, and was down by 70% in real, inflation-adjusted terms.." Marc Faber wrote in his introduction to Russell Napier book 'Anatomy of the Bear: lessons from Wall Street's four great bottoms'