Steve Einhorn is Vice Chairman at Omega Advisors, and Lee Cooperman’s right hand man. I like his checklist (via Disciplined Systematic Global Macro Views):
The Einhorn Bear market checklist:
1. Problematic Inflation
2. Hostile Fed
3. Prospects of recession
4. Investor sentiment
5. Valuation
Good stuff!
Source: Disciplined Systematic Global Macro Views
See also:
MiB: Lee Cooperman of Omega Advisors