I do think for the next twelve months the markets are going to reach new highs. The one thing for the individual investor, the one thing I would focus on is the importance of active management. You're not going to have a situation like the '80s and '90s where multiples went from 6 to 30. This is a situation where the rallies will be very steep, there will be a lot of volatility, but you'll also have to have your wits about you because things could change relatively quickly.
~Jason Trennert, managing partner, Strategas Research, Consuelo Mack Wealthtrack, April 22, 2011