The Buzz - Investment and Stock Market News

The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.

The proverbial “they” say that the cream rises to the top. Well, “they” clearly haven’t looked at the stock market this year.

Stocks are about to wrap up a stellar first quarter. The Dow has hit several new all-time highs this month, while the S&P 500 finally joined suit Thursday and topped its October 2007 peak.

But the companies that have led the rally are not necessarily strong and healthy. Instead, investors have been rewarding many of last year’s dogs on the hopes that things won’t be as bad as in 2012. It’s a rally led by garbage that only Oscar the Grouch could love. Call it the Tom Petty market. Even the…

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