--- title: Are We Headed Toward a Bear Market? | TIME description: Russ Koesterich of BlackRock weighs in. canonical: https://time.com/video/UeyP8t23/ og:title: Are We Headed Toward a Bear Market? og:description: Russ Koesterich of BlackRock weighs in. og:url: https://time.com/video/UeyP8t23/ og:image: https://cdn.jwplayer.com/v2/media/UeyP8t23/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Are We Headed Toward a Bear Market? twitter:description: Russ Koesterich of BlackRock weighs in. twitter:image: https://cdn.jwplayer.com/v2/media/UeyP8t23/poster.jpg?width=720 --- # Are We Headed Toward a Bear Market? > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Are We Headed Toward a Bear Market? [Watch (HLS stream): Are We Headed Toward a Bear Market?](https://cdn.jwplayer.com/manifests/UeyP8t23.m3u8) (1:25)  _Published 2015-10-19. Russ Koesterich of BlackRock weighs in._ --- Jul 27, 2023 6:59 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Trump: U.S. 'May Be' Headed Toward a Recession](/video/LJ9N1eiY/) ### Trump: U.S. 'May Be' Headed Toward a Recession [China's Space Station Is Heading Towards Earth. Should You Be Worried? ](/video/iNxj9Gpv/) ### China's Space Station Is Heading Towards Earth. Should You Be Worried? [What a Bear Market Means](/video/d9xEMfDZ/) ### What a Bear Market Means --- ## Transcript [ MUSIC ] Well certainly at some point, the US is gonna experience another bear market. The good news is we're not seeing the typical signs that you see right ahead of a bear market. But there are a couple things that investors wanna keep in mind. The first and most important of which Is that, given where we are in the cycle, and given the fact that valuations have stretched quite a bit over the past five years, you have to have more modest expectations about the next five years. It's very unlikely that we're going to see consistent years of double digit returns, the way have for most of the past five years. In terms of what to be doing in your portfolio, I think there are a couple of places you want to watch. The most concerning, would be those stocks. That are generally viewed as bond market proxies. Stocks that pay high dividends, such as utility companies or consumer staple companies. And the reason is, people have been flocking to these names for the last five years in order to get some income, and in result, they're expensive. If we do start to see the FED raise rates, nets likely to bring those rates down some Somewhat. So instead we'd be looking at add allocations. One, outside the United States, but also to those parts of the market that don't look as expensive, and are likely to prove more resilient in the face of a Fed tightening cycle. And examples of that would include technology, health care, and while it's not popular right now, energy as well. [ MUSIC ] ```json {"@context":"https://schema.org","@type":"VideoObject","name":"Are We Headed Toward a Bear Market?","description":"Russ Koesterich of BlackRock weighs in.","thumbnailUrl":"https://cdn.jwplayer.com/v2/media/UeyP8t23/poster.jpg?width=720","uploadDate":"2015-10-19T22:56:17.000Z","contentUrl":"https://cdn.jwplayer.com/manifests/UeyP8t23.m3u8","embedUrl":"https://time.com/video/UeyP8t23/","duration":"PT1M25S","potentialAction":{"@type":"SeekToAction","target":"https://time.com/video/UeyP8t23/?jw_start={seek_to_second_number}","startOffset-input":"required name=seek_to_second_number"}} ```