One of the most important jobs of a financial advisor is risk management. We create strategies to help mitigate the every swings in financial markets. One of those tools, is the 200 day moving average of the S&P 500. To help avoid large price declines, we sell all or a portion of our holdings when the price of the S&P falls below the 200 moving average. The losses of the two previous bear markets from 2000-2002 and 2008-2009 could have been mitigated.