四类常见资产，牛熊周期分别有多长？｜投资小知识

Group 1 - The bull and bear market cycles for different asset classes vary, with shorter cycles for stocks (3-5 years) and longer cycles for real estate (15-20 years) [2][4] - Gold has experienced significant bear markets, such as the 5-year decline from 2011 to 2016, which was longer than the historical longest bear market in A-shares [2][3] - The last real estate bear market bottomed in 2008, with the peak of the previous bull market occurring around 2018, indicating a cyclical nature in real estate valuations [4][5]