Benner's cycle

Benner's cycle describes a theorized economic phenomenon named after Ohioan farmer Samuel Benner, who in 1872 produced a chart that references historical market cycles between 1780–1872 and uses them to make predictions for 1873–2059.

The chart marks three phases of market cycles:

A. Panic Years - "Years in which panic have occurred and will occur again."

B. Good Times - "Years of Good Times. High prices and the time to sell Stocks and values of all kinds."

C. "Years of Hard Times, Low Prices, and a good time to buy Stocks, 'Corner Lots', Goods, etc. and hold till the 'Boom' reaches the years of good times; then unload."

Cycles Benner estimated that panics occur on a cycle of roughly 18 years, 20 years, and 16 years (18-20-16). After a panic, Good Times last for about 7 years. This is followed by a transition of about 11 years to Hard Times. Then, recovery to Good Times over a period of about 9 years (7-11-9).

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