If your stock portfolio looks dinged up these days, take heart. The last few months have also been hard on the bulls participating in our annual stock-picking contest. From the end of October 2007 through Wednesday’s market close, their 12 long calls are down an average 15%, compared with a 9% drop for the S&P 500.
The bears have done better. So far in the contest, four of their five short-sale ideas are in the red, showing an average price decline of 17%.
Andrew T. Gillies 