The bear taps on the stock exchanges.
Typically, however, this is no reason to celebrate, but means prices are falling on all sides.
The resourceful stockbroker would not be such if he did not have a means of not making a profit from it.
The classic method: short selling.
The seller borrows a share, sells it and buys it back at a later date to return it to the lender - at best for less than when he sold the borrowed share.
Money is made with the difference.
If the price of the share rises in the meantime, however, things look bad.
Infinitely high losses are imminent.
Of course, this is nothing for the resourceful and at the same time modern stockbroker.
He prefers to use the means of the hour, the passive index fund (ETF).
It's a good thing that Deutsche Börse, for example, calculates the Short Dax, an index that maps the inverse development of the Dax in order to save investors from having to stand on their heads in the event of a bear market.
Since the beginning of the year, it has gained a good 20 percent.
And, of course, some providers have the right ETF for this, which, for example, use index swaps to map the development of the Short Dax and can thus pour the profit from falling prices into secure fund form.
As I said, this may be something for resourceful stockbrokers.
Everyone else is probably better off letting the bear stitch itself out and then returning to the markets with less windy designs.