There was never a bull market quite like the past ten years. We talk a little about returns and what we have to look forward to now.

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Episode 035 – End of A Bull Market

Episode 035 – End of a Bull Market.mp4

Rick:                 Welcome to Market Insights from Southwest Investments. I’m your host, Rick Zich. Joining me today is going to be Bart Schannep. What we’re going to be talking about today is recapping this spectacular bull run that ended with the COVID-19 pandemic.

People tend to follow either the Dow Jones or the S&P, Standard and Poor’s index. We’re going to be discussing specifically the returns of the S&P 500 and recapping this most recent bull market and its dramatic run that it’s had. Bart, why don’t you get us into some of those details?


Bart:                 Thank you, Rick. Yes, I don’t think we need to play the dirge just yet, but we certainly did see the end of a spectacular bull market, the bull market that began on March 10th 2009. Now, as a formal definition, a bull market starts at the lowest point of the previous bear market. That’s the beginning of the up.

In other words, if the market is digging itself in a hole, that’s when the market stops digging the hole. From then, since March 10th 2009 until this COVID-19 virus hit, and in this case the market topped out on February 19th 2020, so just shy of 11 years. The S&P 500 as the broadest base U.S. market index had a total gain of 529 percent or 18.3 percent annual compounded rate of return, which is a terrific bull market.

We are now in a bear market. We’ll see how long this lasts. We hope we’ve already seen the bottom, but we’ll see. If we have, that’s the start of the next bull market. What’s important is being in the market. Had you joined or had you invested six months after the bottom when maybe you felt better about things, your average annualized rate of return will have dropped to 14.4 percent.

Had you been early by six months, your return would have been reduced to 11.6 percent average annualized rate of return. These calculations are all based on a company called BTN the Research. Nobody has perfect vision. Nobody knows when the bottom is, but it’s a good lesson on being in the market, making sure you’re in the market.

Unfortunately, what that frequently means is going against our better interest and buying when things are scary, or more specifically, when things are the most scary. That’s my tidbit for today, my statistics for today. Thank you.


Rick:                 Well, thanks so much, Bart. It is very interesting. Number one, certainly that was a very good run for us all. Many investors really ask about the long-term average, and for some reason 12 percent is kind of stuck in their head for that number.

While it’s stuck in their head for that number, over the past few years, we had almost 11 years providing 18 percent interest. I mean, not interest but 18 percent returns per year as an average annualized rate of return. That’s just very, very hard to come by. That’s why this bull market is rather extraordinary.

Let’s obviously hope for more like it. We don’t know what this is going to be taking us into with the COVID-19. This is an interesting time, and I really look forward to seeing what’s going to be happening. Thank you Bart for sharing that insight.

Thank you all for coming and watching our show again, joining us on the webcast. If you do have any questions, again, please feel free to fill out our ‘contact us’ form. Hopefully I will be able to read some of those on our webcast  in the future. We just look forward to that input. Thanks so much for joining us again. We look forward to seeing you next time.v


Sarah has been working at Southwest Investment Advisors since October of 2017.

Hers is the first friendly face you will encounter when visiting the office.

Sarah’s responsibilities include assisting clients with online access, processing account documents, scheduling meetings and assisting in all aspects of client services.

When she is not working here you may find Sarah on the shooting range serving as an assistant instructor and safety coach.

She has two children, son Zach is a graduate of the University of Arizona and daughter Paige who will graduate in 2019.


Kataya has been with Southwest Investment Advisors since January of 2017.

She assists Alix with portfolio construction, rebalancing, and trading.

Kataya also plans our company’s client appreciation events and assists with the company website.

In her free time Kataya enjoys spending time with her family and her dog, traveling to new places, and getting involved with local events.


Lacey has been with Southwest Investment Advisors since 2007 and has been the Operations Manager since 2012.

Her primary duties are assisting clients, assisting Advisors, processing paperwork, and working with our back office at LPL Financial.

When she’s not working she enjoys riding horses and spending time with her husband, Dustin, her two small children, and her dogs, Tebow and Ellie.

Lacey and her family really enjoy traveling, spending time outdoors, and watching her dad, Robert Wright, play the banjo.


Robert has been an Advisor since 2012 following in the footsteps of both his father and grandfather. He holds a Bachelor’s Degree in English Literature and graduated Summa cum Laude from BIOLA. After working several years in Social Services Robert has a distinct perspective when helping people create and manage their financial goals.

When Robert is not working, life is all about family. Along with his lovely wife, Robin, four beautiful children and their dog, he enjoys traveling in the family bus, which is always an adventure. He enjoys meditating, praying, journaling and plays the guitar daily to maintain his sanity!

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Licensing and Regulatory​:

Licenses: Series 7, Series 63, Series 31 held through LPL Financial and the Series 66 is held through LPL Financial and Southwest Investment Advisors


Rob is an original co-founder, has been in the industry since 1994. He has degrees in English and Liberal Studies as well as a Teaching Certificate from California State San Bernardino.

Before becoming a Financial Advisor, Rob was a member of the New Christy Minstrels and he continues to perform with his banjos and other stringed instruments in concert as a member of the Wildcat Jazz Band throughout North America and as a guest artist with local symphonies and at various music festivals. Rob and his wife, Linda have one daughter and two grandchildren.

Rob has since retired and no longer has duties at Southwest Investment Advisors, Inc.


Original co-founder, Bart has worked as an Investment Advisor since 1983.  He was with Dean Witter/Morgan Stanley for fifteen years, serving as Branch Manager during the final four years, before moving to Piper Jaffray as Branch Manager for an additional three-and-a-half years before co-founding Southwest Investment Advisors.

In 2008, Bart become one of the first 200 professionals obtaining the industry’s newest designation, the Certified Wealth Strategist® designation, and administered by Cannon Financial Institute.

In May, 2010 Bart was selected for the distinction of Outstanding Advisor of the Year by Registered Rep Magazine, one of 10 financial advisors selected by the editors for 2010. From hundreds of nominees, the winning advisors have demonstrated both business success and leadership in serving as guides to other financial advisors and as active participants in community activities.

He is active in his church and served as President of the Board for Gospel Rescue Mission of Tucson from 2007 – 2010 and 2015 – 2018.  Bart also has served on the Board of Adjustments for the town of Oro Valley from 2002 – 2008.  Bart and his wife Marcella have three grown children and several grandchildren. Together they enjoy wine tasting, scuba diving, and travel.

Bart has since retired and has no responsibilities at Southwest Investment Advisors, Inc.


Rick is in charge of the managerial duties at Southwest Investment Advisors.  As a Financial Advisor, he meets with new and existing clients and helps with problem solving.

He has a Bachelors of Science in Business and Marketing from Purdue University and an MBA from the University of Phoenix. His past 20 years of business experience includes roles of Controller, CFO, and President of consumer goods companies with double digit growth for over a decade.  He and his wife own a local jewelry boutique, Trinity Diamonds.

Outside of the office, Rick enjoys keeping up with the latest in tech news, scuba diving, hiking, playing the electric bass guitar (well, trying to), and keeping the dogs happy with long walks.

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Alix’s primary roles in the team are portfolio management and client contact. She focuses on building and maintaining client relationships and reviewing and constructing portfolios that reflect clients’ individual goals.

Alix holds a BS in Business Administration from Pepperdine University, where she studied both in Malibu, California and Florence, Italy. She started with Southwest Investments in 2009 on the operational side of the business and has built her way to the sales side.

In 2014 Alix obtained one of the industry’s newest designations, the Certified Wealth Strategist® designation, administered by Cannon Financial Institute.

When she’s not in the office, Alix enjoys traveling and exercising with her husband Phil, singing at the Vineyard Christian Community, and meeting up for tea or a cold brew. She has a wonderful family and close group of friends and is excited to be a part of the team here at Southwest Investment Advisors.

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