The last twelve months were probably the most amazing in stock market history. A year ago, the $700 billion bailout had not yet been asked for. Unfathomable amounts of money had not yet been given or loaned to financial behemoths, some of whom were the corporate culprits that caused this near collapse of the world's economic system.
Six months ago the Standard and Poor's 500 Index reached its lowest point in a decade. The end of the civilized world as we know it was being forecast. Yikes.

Today, eight months into President Obama's term, the stock market is acting like its frisky old self. Despite mildly favorable economic signs, the Standard and Poor's 500 index has risen from its low of 666 in early March to near 1,000. Surprisingly, the mainstream and business media rarely comment on how fast we've moved away from the brink of disaster. It makes me wonder if investors, advisors and corporate leaders learned any lessons from our flirtation with disaster.

So, where are we now? Market indexes are up 40-60% since March, but still down 30-35% from all-time highs two years ago. I fear that speculation, more than sound investment research, has driven the stock market so far, so fast. Also, I worry about October, a month notorious for crazy stock market shenanigans. If the next few months are boring, I'll be happy.