The bear market in the Great Depression lasted 30-something months.
Profits will probably fall by half and I would be surprised if the bear market lasted more than two or three years.
The house had a large bull clientèle, which was holding its stocks, and not selling on a bear market.
He was a bull in a bear market; and the more he lost the more he thought the inevitable "rally" in prices was due.
It refers to a person who believes that the market value of stocks will decline, and a bear market is a declining market.