It's just the style of the last 15 years, ... Because of the long-term bull cycle, the bear markets are very short.

During those years, a market used to last about 9-10 months. In 1990 we had a bear market which took 3 months.

It certainly is a bear market,

We're in a long-term sideways type of market, a consolidation market, typified by alternating cyclical bull and bear markets lasting a year or two each,

Those new stocks haven't really helped all that much, but I don't think they've actually hurt all that much, either. Their formula for picking stocks isn't the end-all, but it's what people know.

We're seeing things we've never seen before, where one day the Dow is up 100 and Nasdaq is down 100, and vice versa,