Not so fast.
All four scored Oscar nominations this morning: Bullock for best actress, Bridges for best actor, Mo'Nique for best supporting actress and Waltz for best supporting actor.
Previous actors who had the same momentum going into the Academy Awards -- Julie Christie, Renee Zellweger and Russell Crowe won SAG and Globe awards -- lost out on the Oscar in the end.
But if they do win, they'll join an exclusive group of actors who have achieved the trifecta of acting awards for a single role. They include Tom Hanks for "Forrest Gump," Hilary Swank for "Million Dollar Baby," Heath Ledger for "The Dark Knight" and Kate Winslet for "The Reader."
An even smaller group, including Daniel Day Lewis for "There Will Be Blood," Helen Mirren for "The Queen," Jamie Foxx for "Ray" and Julia Roberts for "Erin Brockovich" won all three plus the Critics' Choice Award.
So what's it all mean?
Greg Kilday, the film editor for the Hollywood Reporter, said the awards leading up to Oscar "don't necessarily affect who wins," but they "show you were the sentiment is trending."
"I think it can give momentum, if not reflect momentum that's already there," Kilday told ABCNews.com.
Much like during the political campaign season, the three-month award season that culminates with the Academy Awards allows for consensus building. And, with some overlap in membership between the Screen Actors Guild and the acting branch of the Academy, "at the end of the day, it would be surprising if the Academy's winners didn't overlap."
Is one award a better predictor than the other of who will win the Oscar?
A quick look at Oscar winners over the past two decades yielded mixed results. Several actors, including Forest Whitaker, Nicolas Cage and Gwyneth Paltow, took home a Golden Globe and SAG Award on their way to an Oscar win. But just as many, including Holly Hunter, Whoopi Goldberg, Kathy Bates and Cuba Gooding Jr., received one but not the other. And some -- Jeremy Irons, Adrien Brody and Kevin Spacey -- received neither one.
Mo'Nique and Waltz have been frontrunners all awards season. Bridges, on the other hand, has been a relatively late arrival. After his film "Crazy Heart" was released early to compete for this year's Oscars, Bridges immediately became a contender.
"He is in a very strong position," Kilday said. "It gives the community a chance to award someone they like a lot."