It's a Panic Attack, Not a Real Bear Market

In my annual â??predictionsâ? column in early January, I wrote:

â??Iâ??m expecting the biggest correction since the 16% and 19.4% retrenchments in 2010 and 2011 â?¦ that would test investorsâ?? faith in this almost five-year-old bull market.â?

Be careful what you wish for.