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By David Rosenberg
Published: February 14 2011 14:59 | Last updated: February 14 2011 14:59
There is no doubt that we have an incredible bear market rally on our hands. But after a monstrous 90 per cent rally from the March 2009 lows (over such a short time frame, and the most pronounced bounce since 1955) this market has become seriously overextended.
While everyone focuses on the gross nominal returns, they do not see the risks that are nearly invisible to the naked eye. But we see the risks very clearly. Here at Gluskin Sheff & Associates, we assess them; we measure them, and we benchmark the returns against them.
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