Don't Worry, Be Bullish

From Barron's

"Not only did large depositors in Cyprus have to take a haircut, but Cyprus became a roach motel where cash could come in but couldn't get out."

Up and Down Wall Street | SATURDAY, MARCH 30, 2013

Don't Worry, Be Bullish
By RANDALL W. FORSYTH 

The broad market was up 11% this quarter, brushing off fears of the fiscal cliff, sequestration, crisis in Europe or a myriad of other threats. And the biggest winners may surprise you.

It can't get much better than this. Even dear old Dr. Pangloss scarcely could have written a better script for the stock market than what actually occurred in the first quarter.

In true melodramatic fashion, 2013 got off to a scary start as we seemed about to hurtle over the fiscal cliff -- only to avoid crashing into the abyss in the wee hours of New Year's Day. Then came sequestration on March 1, a term few could define let alone understand before that date. The dreaded Ides of March this time brought a crisis in the tiny Mediterranean island nation of Cyprus, which appeared to subside by the quarter's end.

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