All bear markets are alike. Each bull market is bullish in its own way.

Bears follow the same script — fear, forced selling, capitulation. Same playbook every time.

Bulls? Each one has its own character. Different sectors lead. Different narratives drive it. Different excesses build up.

2009-2020 was tech and central banks. 1990s was the internet revolution. 1980s was disinflation and LBOs. 1950s-60s was postwar growth and the Nifty Fifty.

You can prepare for the next bear because you've seen it before. But the next bull? It'll surprise you. Always does.