People who bet on horses do it for the horse to win.The bookmakers make all the money as out of 10 bets, only one is on a winning horse but the rest are on the losers.In stock markets, the bulls take the stock up very patiently over a period of time.(Visualise the "Slide" in a children's Park..and the child is climbing the steps slow & steadily to the top of the ladder but comes down the slide fast..)..And the bears come crashing into the party and in no time take away a huge sum. What the bulls made in a years time, the bear will make it in a month's time.The smart bulls take the money off the market periodically..Ofcourse, the bears make it possible to pick up gems in such a falling market at throw away prices..