Shares to pick for the new bull market

My usual preference in all stock market conditions is growth shares. They make the best long-term investments and can deliver spectacular capital appreciation if you find the right share.

However, current circumstances are unusual. Opportunities to buy near the low points of bear markets are rare, even more so to buy when shares have been discounting a full blown depression.

This puts the spotlight on different kinds of shares, notably cyclical shares and bombed-out shares.

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Cyclical shares may be a winner
If we are at an early stage in a new multi-year bull market and the present slump is going to be succeeded by a new boom with capacity shortages and soaring profit margins, then cyclical shares could do well and many bombed-out shares will recover.

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