Being a stock market guru requires knowing the future before it happens. There were several prognosticators who have been gloomy since before the market collapse in 2008 and remained bearish for years afterward, expecting another economic shoe dropping. Several of these (including Dr. Doom himself, professor Nouriel Roubini) have changed their bearish ways in the past year or two and become market optimists according to Steven Russolillo of the Wall Street Journal.
Even though they missed much of the 5-year bull market, their change of heart makes sense. Maybe they realized that, given the fact that bull markets outnumber bears (by about 3 to 1), they stand a chance of posting better track records by just playing the odds.
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