Another Bear Bites the Dust
"And another one gone, and another one gone, another one bites the dust." -- Queen
NEW YORK ( TheStreet) -- I don't know if you've heard, but there's a new saying going around Wall Street: "Bulls make money, bullish pigs make more money and bears get slaughtered."
This year, 2013, continues to be the year of the bear killer. One by one, we have seen a number of prominent bears throw in the towel. With nearly a straight up advance this year, the career risk of remaining bearish at this point is simply too high a price for most to pay.
The latest victim was Hugh Hendry of Eclectica, who turned bullish last week while acknowledging that after a 30% advance in the
S&P 500 and the
Russell 2000 ETF
(IWM) up even stronger over the past year he might be "providing a public utility as the last bear to capitulate." He went on to say that he can no longer "look himself in the mirror" as he has had to reject "everything
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts