If you’re a hedge fund, more easily than most. They typically invest by taking a view on individual investments relative to the wider market.

For instance, a hedge fund might own a stock – but not buy stocks of the companies investors typically associate with it (its index). If they pick the right assets, hedge funds can win even when the wider market’s falling.

But most investors don’t have enough dough to back a hedge fund. So for everyone else, here are some suggestions…

Don’t sell – rebalance First of all, diversification across different types of investment – and across different geographies and industries – remains important. It can help make up for losses in one area with gains elsewhere. Some say that if the prospect of a bear market has you panicked, then your portfolio isn’t diversified enough to begin with.

If stocks take a tumble, it could be a good opportunity to rebalance your portfolio. In other words, you could top up the proportion of your investments that’s kept in stocks by buying those that have fallen in value ⚖️

When doing that, remember you have options. You could just buy a bunch of stocks all in one go: since markets tend to rise over the long term, paying a high price on a given day might not make much difference down the road, and buying at what turns out to be a particularly low point could help you eventually pocket more profit.

Otherwise, “dollar-cost averaging” is a popular way to buy stocks over an extended period (weeks or months, say). You effectively pay the average price over that period, rather than the price on any given day – and if you’re spending the same amount every time, you’ll naturally get more bang for your buck when prices go down.

Bear market stocks to buy When uncertainty bites and the future looks bleak, many experts advise investors to buy “defensive” stocks in sectors like healthcare, utilities, and telecoms, where earnings and dividends are considered pretty predictable.

Think, for example, of the long-term phone contracts that mean the likes of Vodafone and AT&T know exactly how much cash to expect from a customer for years in the future.

People always need medicines and heating no matter the state of the economy – but they might choose to save by canceling a Netflix or Amazon Prime subscription.

Some analysts therefore advise steering clear of normally high-growth tech stocks in a bear market.