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Here Comes the Death of the Bearish Funds

By Jim Cramer

 About this article:
 One year ago today, a quarter ended that put hundreds of bullish hedge funds out of business. Today, a quarter ends that will put hundreds of bearish hedge funds out of business. Oh, sure, last year some of the bulls were able to stumble through the fourth quarter, but October was a horror show and they ended up getting huge redemption letters and spending the rest of 2008 selling into the strength of the rally to return capital to investors and lock in losses. I expect the same thing to happen to the bears starting today with the October redemption letters and wires hitting their assistants and their bookkeepers. They too can try to redeem themselves (rather than be redeemed) by covering their shorts -- really chasing them -- in MBIA or MGIC or Citigroup and CIT and dozens of other over-shorted names. They...

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