--- title: "Meaning & Key Takeaway of: A crash really occurs when you suddenly…" description: "\"A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.\" — Ron Chernow" image: "https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png" --- # A crash really occurs when you suddenly have a violent… ![“A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.” quote by Ron Chernow](https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png) [Download](https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png) [Open image](https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png) > “A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.” [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Market crashes signal a sharp downturn that often precedes a prolonged period of growth. **In simple terms:** Crashes precede bull markets. Key Takeaway Recognize cycles for opportunity. Themes economics market cycles investment risk financial history Mood analytical cautious optimistic Type finance educational When to use this quote - stock trading - portfolio diversification - financial education Key Concepts bull‑bear dynamics economic recovery investment strategy Questions to Reflect On - How can investors prepare for inevitable downturns? - What signals indicate a forthcoming bull market? A Different Perspective Predicting timing remains uncertain. ★ ★ ★ ★ ★ No ratings yet [Bull market](https://sms4smile.com/quotes/about/bull-market/) [Customer](https://sms4smile.com/quotes/about/customer/) [Downturn](https://sms4smile.com/quotes/about/downturn/) [Investing](https://sms4smile.com/quotes/about/investing/) [Violent](https://sms4smile.com/quotes/about/violent/) ## Related quotes > [Stock market corrections, although painful at the time, are actually a very healthy part of the whole mechanism, because there are always speculative excesses…](https://sms4smile.com/quotes/ron-chernow/stock-market-corrections-although-painful-at-the-time-are-actually-a/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [Any bull market covers a multitude of sins, so there may be all sorts of problems with the current system that we won't see…](https://sms4smile.com/quotes/ron-chernow/any-bull-market-covers-a-multitude-of-sins-so-there-may-be-all-sorts/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [As a bull market continues, almost anything you buy goes up. It makes you feel that investing in stocks is a very easy and…](https://sms4smile.com/quotes/ron-chernow/as-a-bull-market-continues-almost-anything-you-buy-goes-up-it-makes/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [As the bull market goes on, people who take great risks achieve great rewards, seemingly without punishment. It's like crime without punishment or sex…](https://sms4smile.com/quotes/ron-chernow/as-the-bull-market-goes-on-people-who-take-great-risks-achieve-great/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [When news of the crash came, probably a lot of people in small towns and farms across America felt a sense of grim satisfaction…](https://sms4smile.com/quotes/ron-chernow/when-news-of-the-crash-came-probably-a-lot-of-people-in-small-towns/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Short a bear market, go long in a bull market, either play, you do it on a hunch, harbor a whole lot of hope,…](https://sms4smile.com/quotes/simon-pont/short-a-bear-market-go-long-in-a-bull-market-either-play-you-do-it-on/) [Simon Pont](https://sms4smile.com/quotes/author/simon-pont/) > [I think we're in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.](https://sms4smile.com/quotes/sumner-redstone/i-think-we-re-in-the-beginning-of-a-bull-market-when-a-bull-market/) [Sumner Redstone](https://sms4smile.com/quotes/author/sumner-redstone/) > [Bull markets are Test matches and not 50-over games.](https://sms4smile.com/quotes/rakesh-jhunjhunwala/bull-markets-are-test-matches-and-not-50-over-games/) [Rakesh Jhunjhunwala](https://sms4smile.com/quotes/author/rakesh-jhunjhunwala/) > [I would argue that we are in the middle of the biggest cable-news bull market that we have seen in some time. Clearly outside…](https://sms4smile.com/quotes/bill-hemmer/i-would-argue-that-we-are-in-the-middle-of-the-biggest-cable-news/) Bill Hemmer > [Historically, there has been a bull market in commodities every 20 or 30 years.](https://sms4smile.com/quotes/jim-rogers/historically-there-has-been-a-bull-market-in-commodities-every-20-or/) [Jim Rogers](https://sms4smile.com/quotes/author/jim-rogers/) > [Occasionally we are asked whether it would make sense to modify our investment strategy to perform better in today's financial climate. Our answer, as…](https://sms4smile.com/quotes/seth-klarman/occasionally-we-are-asked-whether-it-would-make-sense-to-modify-our/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Indeed, bull markets are fueled by successive waves of prior skeptics finally capitulating as their fears fade. Eventually, fear turns to euphoria, and that's…](https://sms4smile.com/quotes/kenneth-fisher/indeed-bull-markets-are-fueled-by-successive-waves-of-prior-skeptics/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [“The Fed is still on the same track.” Whatever you call it, the benign economic environment has supported a bull market since 2009, and…](https://sms4smile.com/quotes/anonymous/the-fed-is-still-on-the-same-track-whatever-you-call-it-the-benign/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull…](https://sms4smile.com/quotes/jesse-lauriston-livermore/disregarding-the-big-swing-and-trying-to-jump-in-and-out-was-fatal-to/) [Jesse Lauriston Livermore](https://sms4smile.com/quotes/author/jesse-lauriston-livermore/) > [Too many people are apt to redeem their profits too quickly. In a huge bull market they wind up with piddling profits, only to…](https://sms4smile.com/quotes/martin-zweig/too-many-people-are-apt-to-redeem-their-profits-too-quickly-in-a-huge/) [Martin Zweig](https://sms4smile.com/quotes/author/martin-zweig/) ## More by Ron Chernow > [“In other words, Julia still believed in the beneficial effects of tobacco long after her husband had likely died from it. Even grimacing with…](https://sms4smile.com/quotes/ron-chernow/in-other-words-julia-still-believed-in-the-beneficial-effects-of/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Right before his inauguration, he received a Quaker delegation and asked them to nominate Indian agents from their members. “If you can make Quakers…](https://sms4smile.com/quotes/ron-chernow/right-before-his-inauguration-he-received-a-quaker-delegation-and/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Grant roomed with Fred Dent, who also singled out Grant as “the clearest headed young man I ever saw . . . He always wanted to do…](https://sms4smile.com/quotes/ron-chernow/grant-roomed-with-fred-dent-who-also-singled-out-grant-as-the/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [The richly cadenced prose is hypnotic, the research prodigious, the analysis acute, the mood spellbinding, and the cast of characters mythic in scale. I…](https://sms4smile.com/quotes/ron-chernow/the-richly-cadenced-prose-is-hypnotic-the-research-prodigious-the/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Hamilton has often been extolled as the exponent of a rational foreign policy based on cool calculations of national self-interest. But his April 14…](https://sms4smile.com/quotes/ron-chernow/hamilton-has-often-been-extolled-as-the-exponent-of-a-rational/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“While the folks at home embraced him as an improbable hero, Washington was denigrated in England as a reckless young warrior and in France…](https://sms4smile.com/quotes/ron-chernow/while-the-folks-at-home-embraced-him-as-an-improbable-hero-washington/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“the immorality of slavery became patently clear that spring. He had acquired from Colonel Dent the mulatto slave named William Jones who had worked…](https://sms4smile.com/quotes/ron-chernow/the-immorality-of-slavery-became-patently-clear-that-spring-he-had/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“As his life steadily unraveled, he pawned his gold watch and chain for $20 on December 23, 1857, to purchase Christmas presents for his…](https://sms4smile.com/quotes/ron-chernow/as-his-life-steadily-unraveled-he-pawned-his-gold-watch-and-chain-for/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Grant had overwhelmingly won the electoral vote, and had garnered the largest popular majority of the century, nearly 56 percent of the vote, the…](https://sms4smile.com/quotes/ron-chernow/grant-had-overwhelmingly-won-the-electoral-vote-and-had-garnered-the/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“The chief quartermaster on the West Coast, Robert Allen, an old friend of Grant’s, learned he was holed up in a cheap miner’s hotel…](https://sms4smile.com/quotes/ron-chernow/the-chief-quartermaster-on-the-west-coast-robert-allen-an-old-friend/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Returning to his Manhattan town house on Christmas Eve, Grant, sixty-one, pivoted to hand the driver a holiday tip when he slipped on the…](https://sms4smile.com/quotes/ron-chernow/returning-to-his-manhattan-town-house-on-christmas-eve-grant-sixty/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“When he bet Julia that she wouldn’t dare to descend into the mine, located seventeen hundred feet below, it roused her fighting spirit and…](https://sms4smile.com/quotes/ron-chernow/when-he-bet-julia-that-she-wouldn-t-dare-to-descend-into-the-mine/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“Consequential to the election outcome were the many private contacts in the capital between southern Democrats and Hayes’s northern Republican supporters. At Wormley’s Hotel…](https://sms4smile.com/quotes/ron-chernow/consequential-to-the-election-outcome-were-the-many-private-contacts/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“The trial wasn’t the finest hour of American justice as the treatment of the prisoners seemed medieval in its barbarism. Almost all of the…](https://sms4smile.com/quotes/ron-chernow/the-trial-wasn-t-the-finest-hour-of-american-justice-as-the-treatment/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) > [“he warned that progressive accumulation of debt “is perhaps the NATURAL DISEASE of all Governments. And it is not easy to conceive anything more…](https://sms4smile.com/quotes/ron-chernow/he-warned-that-progressive-accumulation-of-debt-is-perhaps-the/) [Ron Chernow](https://sms4smile.com/quotes/author/ron-chernow/) [Explore all 276 Ron Chernow quotes ](https://sms4smile.com/quotes/author/ron-chernow/) ## More Bull market quotes > [Too many people are apt to redeem their profits too quickly. In a huge bull market they wind up with piddling profits, only to…](https://sms4smile.com/quotes/martin-zweig/too-many-people-are-apt-to-redeem-their-profits-too-quickly-in-a-huge/) [Martin Zweig](https://sms4smile.com/quotes/author/martin-zweig/) > [Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull…](https://sms4smile.com/quotes/jesse-lauriston-livermore/disregarding-the-big-swing-and-trying-to-jump-in-and-out-was-fatal-to/) [Jesse Lauriston Livermore](https://sms4smile.com/quotes/author/jesse-lauriston-livermore/) > [“The Fed is still on the same track.” Whatever you call it, the benign economic environment has supported a bull market since 2009, and…](https://sms4smile.com/quotes/anonymous/the-fed-is-still-on-the-same-track-whatever-you-call-it-the-benign/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Indeed, bull markets are fueled by successive waves of prior skeptics finally capitulating as their fears fade. Eventually, fear turns to euphoria, and that's…](https://sms4smile.com/quotes/kenneth-fisher/indeed-bull-markets-are-fueled-by-successive-waves-of-prior-skeptics/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [Occasionally we are asked whether it would make sense to modify our investment strategy to perform better in today's financial climate. Our answer, as…](https://sms4smile.com/quotes/seth-klarman/occasionally-we-are-asked-whether-it-would-make-sense-to-modify-our/) [Seth Klarman](https://sms4smile.com/quotes/author/seth-klarman/) > [Historically, there has been a bull market in commodities every 20 or 30 years.](https://sms4smile.com/quotes/jim-rogers/historically-there-has-been-a-bull-market-in-commodities-every-20-or/) [Jim Rogers](https://sms4smile.com/quotes/author/jim-rogers/) > [I would argue that we are in the middle of the biggest cable-news bull market that we have seen in some time. Clearly outside…](https://sms4smile.com/quotes/bill-hemmer/i-would-argue-that-we-are-in-the-middle-of-the-biggest-cable-news/) Bill Hemmer > [Bull markets are Test matches and not 50-over games.](https://sms4smile.com/quotes/rakesh-jhunjhunwala/bull-markets-are-test-matches-and-not-50-over-games/) [Rakesh Jhunjhunwala](https://sms4smile.com/quotes/author/rakesh-jhunjhunwala/) > [I think we're in the beginning of a bull market. When a bull market begins, nine months later the economy turns around.](https://sms4smile.com/quotes/sumner-redstone/i-think-we-re-in-the-beginning-of-a-bull-market-when-a-bull-market/) [Sumner Redstone](https://sms4smile.com/quotes/author/sumner-redstone/) > [“Short a bear market, go long in a bull market, either play, you do it on a hunch, harbor a whole lot of hope,…](https://sms4smile.com/quotes/simon-pont/short-a-bear-market-go-long-in-a-bull-market-either-play-you-do-it-on/) [Simon Pont](https://sms4smile.com/quotes/author/simon-pont/) > [“A bull market is like sex. It feels best just before it ends”](https://sms4smile.com/quotes/anonymous/a-bull-market-is-like-sex-it-feels-best-just-before-it-ends/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [The strongest bull markets I've been in are built on walls of worry.](https://sms4smile.com/quotes/cathie-wood/the-strongest-bull-markets-i-ve-been-in-are-built-on-walls-of-worry/) [Cathie Wood](https://sms4smile.com/quotes/author/cathie-wood/) > [I can find only one bull market, in 1935, that didn't have some material indigestion within its first 12 months.](https://sms4smile.com/quotes/kenneth-fisher/i-can-find-only-one-bull-market-in-1935-that-didn-t-have-some/) [Kenneth Fisher](https://sms4smile.com/quotes/author/kenneth-fisher/) > [Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best…](https://sms4smile.com/quotes/john-templeton/bull-markets-are-born-on-pessimism-grown-on-skepticism-mature-on/) [John Templeton](https://sms4smile.com/quotes/author/john-templeton/) > [“The intelligent investor dreads a bull market, since it makes stocks more costly to buy. And conversely (so long as you keep enough cash…](https://sms4smile.com/quotes/m-k-gandhi/the-intelligent-investor-dreads-a-bull-market-since-it-makes-stocks/) [M.K. Gandhi](https://sms4smile.com/quotes/author/m-k-gandhi/) [Browse all 63 Bull market quotes ](https://sms4smile.com/quotes/about/bull-market/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.", "creator": { "@type": "Person", "name": "Ron Chernow" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/ron-chernow/a-crash-really-occurs-when-you-suddenly-have-a-violent-downturn-in/", "about": { "@type": "Thing", "name": "Bull market" }, "@id": "https://sms4smile.com/quotes/ron-chernow/a-crash-really-occurs-when-you-suddenly-have-a-violent-downturn-in/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png", "contentUrl": "https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png", "url": "https://sms4smile.com/quotes/i/7c8/ron-chernow-1189_bull-market_a-crash-really-occurs-when-you-suddenly_3019241.png", "width": 1080, "height": 1080, "caption": "“A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull…” — Ron Chernow", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Ron Chernow", "item": "https://sms4smile.com/quotes/author/ron-chernow/" }, { "@type": "ListItem", "position": 4, "name": "A crash really occurs when you...", "item": "https://sms4smile.com/quotes/ron-chernow/a-crash-really-occurs-when-you-suddenly-have-a-violent-downturn-in/" } ], "@id": "https://sms4smile.com/quotes/ron-chernow/a-crash-really-occurs-when-you-suddenly-have-a-violent-downturn-in/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```