No matter that the stocks don't exist; Hunter has bet correctly on the direction of the market.

The rosy scenario is that investors are betting correctly that earnings growth will rise further, justifying high stock prices.

For a market-neutral fund to be successful, managers must bet correctly on which securities will fall and rise during the same period.

Traders who were canny enough to see the carnage that was coming sold the stock short, correctly betting on a decline.

In the early 1980's, Lin bet correctly on the next area of media growth: cellular telephones, acquiring franchises in major urban markets.

Even if timers bet correctly, constant shifts between stocks and cash generate hefty tax bills that reduce returns.

Even those who bet correctly early on, like Sharp and Hitachi, say they still face enormous problems.

Gasoline futures rallied as traders correctly bet that petroleum industry data would show a reduction in supplies.

For example, many shorts that correctly bet on companies that went bankrupt, continue to hold the position rather than pay the tax on the gain.

The Liberal Democrats bet correctly that once the sales tax was in place people would just get used to it.