According to @EricBalchunas, bears waiting for a major drawdown are essentially "Waiting for Godot," and the opportunity cost of sitting on the sidelines compounds over time (source: @EricBalchunas on X, Nov 12, 2025). He emphasizes that while bears may eventually be vindicated, the cumulative cost of missed participation can materially impact performance for traders who delay entries (source: @EricBalchunas on X, Nov 12, 2025).