In the world of finance, investors are commonly categorized based on their market outlook. Those who have a positive perspective and believe that stock prices will rise are referred to as bulls. They tend to buy shares with the expectation that their investments will yield profits as the market grows. Conversely, those with a negative outlook, anticipating a decline in stock prices, are called bears. These investors often sell their holdings to avoid losses or even short sell, profiting from falling prices.

Niall Ferguson, in his book "The Ascent of Money: A Financial History of the World," highlights this duality in investment behavior. The terminology of bulls and bears encapsulates the psychology of the market, where optimism and pessimism drive trading decisions. Understanding this dynamic is crucial for anyone looking to navigate the complexities of financial markets effectively.