Core Viewpoint - The article discusses the challenges investors face during bull markets, emphasizing that many investors do not believe in the onset of a bull market until it is well underway, leading to missed opportunities and potential losses [4][5]. Group 1: Investor Behavior in Bull Markets - Many investors, having experienced bear markets, develop a mindset that every purchase is a mistake and every rebound is a last chance to escape, causing them to remain under-invested in the early stages of a bull market [5]. - As the bull market progresses, investors gradually shift their belief to thinking that every sale is a mistake, leading to overexposure and potential losses when the market corrects [5]. Group 2: Market Volatility - Bull markets are characterized by significant volatility, which can lead to investor losses even when they initially believe they are in a rising market [6][7]. - Investors may experience substantial gains, only to see those gains evaporate during market corrections, leading to emotional distress and poor decision-making [8]. Group 3: Investment Strategy - A sound investment strategy involves proper asset allocation and a focus on stable investments to navigate through market fluctuations [10][11]. - Maintaining a balanced portfolio with a significant allocation to fixed-income assets can provide a safety net, reducing overall volatility and helping investors avoid the pitfalls of trying to time the market [12].