The S&P/TSX Composite Index and S&P 500 are up about 12 per cent and 11 per cent, respectively, from the Oct. 12 lows. But strategists at RB Advisors, including company founder and former Merrill Lynch chief U.S. quantitative strategist Richard Bernstein, believe the rally has all the hallmarks of speculative excess and won’t last long.begins, “The stock market rally so far this year seems based largely on speculation rather than fundamentals.
Recent market strength reflected a belief that bubble conditions were set to return but year-over-year growth in the M2 money supply - cash, bank deposits, money market funds, and anything that can be quickly converted to cash - has turned negative for the first time in modern history.
liberals have destroyed retirement savings for millions with their out of control spending.