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Options Bear and Guru

Traders Magazine, September 2001

Kathryn M. Welling

Bernie Schaeffer, the major domo at Cincinnati-based Schaeffer's Investment Research, is an options guru, a market technician, a natural-born contrarian, a gentleman and a scholar. He has also, since last March, been a bear, quite a transition for a market analyst who'd stayed doughtily bullish through most of the bull's decade-long romp. But that doesn't bother him. What does, currently, is the complacency he detects among institutional investors, especially in the way they've been piling into riskless' options strategies in a trendless' market that's just broken some longstanding support levels.

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