Some concerns about the asset-price inflation are overstated. Policy makers want to reflate asset prices as part of the recovery; if that starts getting out of hand, then you can get worries about future asset bubbles. These concerns I think are somewhat premature.

David Riley, head of global sovereign ratings at Fitch Ratings

You got people out there saying the bear market rally’s over. I think they’re smoking dope.

Jeffrey Saut, chief investment strategist at Raymond James & Associates in St. Petersburg, Florida, which manages $214 billion.