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Simply inverting what works in a bull market will not just underperform in a bear market, it will destroy capital. This programme focuses on how markets behave when conditions deteriorate, and how to identify, position and manage risk in an environment driven by forced selling, volatility and rapid shifts in sentiment.
By the end of the programme, participants understand the structural differences between corrective phases and true bear markets, and are able to recognise the signals that precede broader deterioration. Market behaviour is no longer viewed through a bull market lens, but through a framework that reflects how price is driven during periods of stress.
The result is a clear and structured approach to operating in deteriorating market conditions, where participants are able to recognise the transition into a bear market and adapt accordingly. What is often misunderstood, even by experienced traders, is how differently markets behave once stress begins to build, with familiar relationships breaking down and expected outcomes failing to materialise. By understanding the mechanics that drive these periods, participants are able to identify where opportunity truly sits, rather than relying on assumptions carried over from more stable conditions or vague memories of bears in years gone by. This ensures that decisions are aligned with how bear markets actually unfold, not how they are commonly expected to.
The programme is delivered over two intensive days in a focused, in-person setting. The structure moves quickly from understanding the mechanics of market deterioration to identifying opportunity and managing risk, with each stage building directly on the last. The format combines theory, practical application and real market context, ensuring participants are able to recognise and respond to bear market conditions as they develop.
Module 1 (Day 1 AM) - Bear Market Mechanics & Structural Breakdown
The first module focuses on how markets behave as conditions deteriorate, and why bear markets are fundamentally different from corrective phases or rising environments. Participants work through the behavioural, structural and mechanical forces that drive price during periods of stress, establishing a clear understanding of how and why markets break down.
Participants complete this module with a clear understanding of how bear markets form and develop, recognising the structural signals that precede broader breakdown. Market behaviour is no longer viewed through a bull market lens, but through the forces that drive price during periods of stress, allowing participants to identify early warning signs and anticipate how deterioration is likely to unfold.
Module 2 (Day 1 PM) - Opportunity Identification, Strategy & Product Selection
The second module moves from understanding market deterioration to identifying where opportunity sits within it. Participants focus on how different assets, sectors and strategies behave in declining conditions, and how to position accordingly. Emphasis is placed on selecting the appropriate instruments for the environment, with particular focus on structuring trades that benefit from volatility, dislocation and asymmetric risk.
Participants complete this module with a clear understanding of how opportunity presents itself in deteriorating markets, and how to position effectively to capture it. Rather than applying approaches carried over from rising markets, strategies are selected based on how price behaves during periods of stress, with trade construction focused on maximising asymmetry while maintaining control of risk.
Module 3 (Day 2 AM) - Risk Management in Deteriorating Market Conditions
The third module focuses on managing the heightened and often misunderstood risks present during bear markets. As volatility expands and liquidity deteriorates, participants work through how risk must be controlled across execution, position sizing and exposure. The emphasis is on maintaining control in an environment where price moves are faster, correlations shift and traditional assumptions no longer hold.
Participants complete this module with a clear understanding of how risk behaves differently in bear market conditions, and how it must be managed accordingly. Exposure is controlled across multiple dimensions, ensuring that positions remain viable even as volatility increases and market structure becomes less stable. This provides the foundation required to operate effectively in environments where unmanaged risk can quickly compound.
Module 4 (Day 2 PM) - Case Studies & Live Market Application
The final module brings the programme into a practical setting. Participants work through historical case studies of bear markets to understand how the concepts apply in real conditions, before applying the same framework to current markets where possible. The focus is on translating theory into action, ensuring that market behaviour, opportunity and risk are understood in context rather than isolation.
Participants complete the programme having applied the framework to both historical and current market conditions, reinforcing how bear markets develop and how opportunities emerge within them. By working through real examples, the concepts covered throughout the programme are consolidated into a practical approach, ensuring that participants leave with the ability to recognise, interpret and act within deteriorating environments.
Programme Outcome
By the end of the programme, participants are able to recognise when market conditions have shifted beyond a simple correction, and adjust their approach before the majority of participants are forced to react. Rather than being exposed to the same risks as the wider market, they are positioned to identify where pressure is building, how it is likely to spread, and where opportunity sits within that process. This places participants at a clear advantage, operating with an understanding of market behaviour that is not only uncommon amongst retail participants, but often absent even within professional environments. Decisions are no longer based on assumptions carried over from rising markets, but on how price actually behaves during periods of stress, allowing for a more controlled, selective and informed approach to capital allocation with built-in antifragility.
The programme is delivered over two intensive days in a focused, in-person setting, with small cohort sizes to ensure direct engagement throughout. The format is structured to move quickly from understanding the mechanics of market deterioration into identifying opportunity and managing risk, with each stage building directly on the last. The environment is designed to maintain focus and intensity, combining structured teaching with practical application to ensure the material is fully embedded through use. The compressed format reflects the nature of the subject matter — direct, high-impact and immediately applicable.
If the structure outlined above aligns with your current stage of development, you may submit an enquiry to begin the application process. All applications are reviewed directly prior to residency confirmation. The next residency is as follows:
Date:
14th - 15th May 2026
Duration:
2 days
Location:
Athens | Grand Hyatt Hotel
Availability:
Limited
Price:
US $1,895
Deposit:
US $895
Balance Due:
14th April 2026
What isn't included:
Travel, accommodation and personal expenses.
What is included:
Instruction, course materials and structured framework. Plus breakfast and lunch with a mid-morning and mid-afternoon snack and non-alcoholic refreshments throughout the day.