sorry but the only answer any investor should care about is achieving their financial goals over the expected investment timeframe.

markets tend to rise and as a result market declines tend to be temporary

the permabear thesis appeared in the early 80s when the US was in a rut and we also became a debtor nation. the permabear thesis -that debt and fiat currency would produce an economy favoring the pessimistic (but not completely imploding to the point of collapse, because you can't invest in that), proved to be wrong over a thirty year window

if you have an axe to grind, you will always find a permabear manager willing to tell you tales of doom...it will cost you your financial goals though