anyone invested here, page-95

Obviously you want to be certain of a sustained downturn to risk BEAR. However I'd add a bit of caution on YMAX. While it's broadly done what its supposed to do, the option protection has been poor over the course of 2015 calendar year when it should have actually added value. Performance of their benchmark index the ASX20 was -1.35% for the year vs YMAX -3.94%. Earlier years have also underperformed because, as you say, the market was rising. But 2015 has overall been a fail. I'm not against YMAX per se, just advocating caution.