The hook is below the bead for the same reason the FnP has his special Kenai baitholder. Just trying to reduce the possibility of fish swallowing the hook with the bead. I've been using troutbeads for several years, and prefer them over globugs. I'm not a fan of troutbead's leader wrap method for locating the bead above the hook. The beads seem to easily cut through the tippet material, so I've been snelling small amounts of yarn onto the leader/tippet and then letting the bead slide down onto the yarn. Ends up looking like a little corkie-and-yarn drift rig.