Bob Farrell had it right when he said bull markets are more fun than bear markets. Generally speaking, fun is better than no fun. However, like there’s no yin without yang, we don’t get good times without bad times too. Everything, as they say, is relative.
A central function of every job is to help people remember there are good times to hold out for during bad times. The real pros use good times to prep for bad times too (without being too much of a joy killer of course).
We don’t have to be able to see around corners to remind people there will be changes we can’t see. Optimists can still be realists. Most importantly, pessimism is a lousy motivator for most people.
Good times are way more fun, but they also start in the depths of the bad times. Keeping people patient and positive can be a hard job, but when we succeed, everybody wins.