Global stock markets are charging along breaking record after record — but what’s driving this ‘bull market’ and how much longer can it last? Plus, what could it mean for investors if a ‘bear market’ awakens from hibernation? In our new miniseries, The Five-Minute Investor, consumer editor Claer Barrett challenges Rob Armstrong, co-host of FT’s Unhedged podcast and author of the Unhedged newsletter, to explain the factors that drive bull and bear markets, and if individual investors should reconsider their strategy.Links:Free pound cost averaging calculator: https://www.hl.co.uk/tools/calculators/regular-investing-calculatorFree dollar cost averaging calculator: https://www.buyupside.com/calculators/dollarcostave.phpTune in every Tuesday to catch the latest episode of The Five-Minute Investor, and subscribe to Money Clinic wherever you get your podcasts. If you would like Claer to demystify an investment term, email the team at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourseWant more?Listen to Unhedged wherever you get your podcasts, read Rob Armstrong’s Unhedged newsletter on the topic, A better bull market?, and sign up to a free 30-day trial of the Unhedged newsletter: https://www.ft.com/unhedgedoffer. Check out Claer’s column, Have you got five minutes to talk about investing?Listen to Money Clinic’s Investment Masterclasses, such as An insider's view of the City of London, What’s one of the world’s leading investors buying?, and more.Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.