Gluskin Sheff Associates

As easy as it was to be bearish in 2009, it sure didn't pay. The markets have produced stellar gains that were inconceivable back in March. And while some may suggest that we're in another bubble, there's ample reason to think stocks can climb even higher through 2010 before going pop.

Great news, everyone. Even the ever-bearish David Rosenberg, chief economist and strategist at Gluskin Sheff (and formerly of Merrill Lynch) is calling for a "V" shaped recovery. Unfortunately, he's not talking about the kind of "V" everyone wants: a snap back as equally sharp as the decline....

Investors whose retirement nest eggs have taken a beating during the last two recessions shouldn't count on the markets bouncing back any time soon. As several experts have noted, there is mounting evidence that equity markets will be trending downward for a long time. An emergent theory argues...