R.I.P. Bull Market, 1982-2008

This post appeared earlier today on RealMoney. Click here for a free trial, and enjoy incisive commentary all day, every day.

Any readers of this column who have children know that kids need a firm set of rules that create structure in their lives. Some of this structure comes from the parents themselves, some from teachers in school, and still more comes from friends' homes and society itself. A youngster without structure in their life is likely doomed to fail at much of what they do.

(This, by the way, is not my personal observation. It is a sociologically accepted principle proved by countless studies done on children worldwide. Moreover, the findings just don't apply to children. Find me an adult with no structure, and you will likely find a very lost soul who is struggling to survive in virtually every facet of his life.)

Markets also need structure in order to grow, be healthy and thrive. And when that structure breaks down, the market takes on the same sense of a lost soul -- struggling to survive in virtually every facet of its "life." ...