按说主要股指下跌至少20%之后熊市才算真正到来，如此看来眼下的市场还没沦落到这步田地，不过，别开玩笑了，你只要碰到以下这些事情，你就会知道熊市真的来了：
 1. You receive yet another 'Dear John' letter from your panicking money manager that starts, 'As I'm sure you know, the month of June has been very challenging ' and ends with the old tease that, 'It is in the most challenging of markets that the greatest opportunities ppear.'

     惊慌失措的投资经理会给你写一封道歉信，开头写道：我相信你一定知道6月份极具挑战性；而用作结尾的陈词滥调是：正是在这最具挑战的市场中孕育着最伟大的机会。
 2. You tell your wife that the crisis on Wall Street is actually a good thing, as it will bring New York real-estate prices down and make it easier to buy a bigger place. Even though you bought your apartment less than two years ago, have no children and will be lucky to get any bonus this year.

    你告诉你老婆华尔街的危机实际上是好事一桩，因为这会让纽约的房价降下来，这样买大点宅子就会容易一些了──即便你一年多前才买了房子、家里没有孩子，而且今年能否得到奖金还是个未知数。
 3. You don't have to lie to your friends anymore about the drive time from New York City to the Hamptons. With the roads empty, it finally takes the hour and 45 minutes you always pretended it did.

    你再也不用在开车从纽约城到汉普顿一路要花多长时间的问题上向朋友们撒谎了。高速路上已是空空荡荡，车程真像你忽悠人时所说的那样只要1小时45分钟了。

 4. You receive the eerily familiar email from the company chief executive full of resolve that the firm will come out of this difficult period even stronger. Then you realize - it's the same email you received two months ago but from a different CEO.

    你从公司CEO那里收到了一封奇奇怪怪、却又似曾相识的邮件，通篇都是讲公司如何如何有信心化解当前困境并愈挫愈强。然后你意识到它和你两个月前从另一位CEO那里收到的信简直就是一个模子里刻出来的。
 5. Your cubicle is moved yet again as your office floor undergoes its fourth reorganization in less than a year. You speculate on whether it is a good sign that you are sitting closer to your boss until you find you are the only two left in the department - and you are the one next to the photocopier.

    随着你们公司年内进行第四次调整，你的办公桌又被挪了位置。你先是猜测着能坐得离老板越来越近可能是个好兆头，然后才赫然发现整个部门里裁得就剩下你和一台复印机了。
 6. You recall how you all laughed about the pilot program to outsource banker work to India. Until it went fully operational, you stopped laughing and were told to pack your things.

    你还记得当初听到要把银行家工作外包到印度的试行方案时大家曾怎样笑做一团的吧；待到这个计划彻底铺开时，你就再也笑不出来了，你被告知可以收拾东西走人了。
 7. You are relieved that the value of all your company vested and unvested shares and options is down only 50% from its peak nine months ago. Never mind that you could have easily dumped most of the shares at prices that won't be seen for another 10 years.

    当你得知公司的既得股、非既得股以及期权价值较9个月前的峰值仅下挫50%时长舒了一口气，全然没意识到你本来有机会将手中这类资产的大部分以一个今后十年都难得一见的好价钱套现。
 8. After months of naysaying the agriculture boom, you finally succumb and find tremendous value in the shares of a $72 billion fertilizer company that was worth a 10th of that two years ago.

    在连续几个月不肯承认农业热已然出现后你终于屈服了，总算认识到一家化肥企业的股票存在巨大价值，该公司目前720亿美元的市值是两年前的十倍。
 9. You walk around smartly reminding everyone at the firm how you warned them that the traders would finally get their comeuppance. Until you remember that the traders are still running your bank and most of Wall Street.

    你在公司里边溜达边告诉每一个人，你曾先知先觉地警告过他们那些交易员总会自食其果的；直到你忽然想起来那些交易员仍在管理着你的、以及大多数华尔街公司的户头。

Yes, Virginia, there is a bear market out there.

    看完这些你还是承认吧，熊真的已经来了。