The S&P 500's 12% gain to start the year gave the index its best first quarter since 1998, and if history is a guide, that may point to a continuing advance for the rest of the 2012 -- provided traders believe the Federal Reserve will keep the money spigot on and the economic data don't signal a collapse.

Interest rates on U.S. bonds may be ridiculously low, but that doesn't mean the country's future interest payments on the national debt will be.

Uncle Sam will shell out more than $5 trillion in interest payments over the next decade, according to the latest projections from the Congressional Budget Office.

Some stock pickers start with a screen. I start with a concept: Look for the hated!

I search for investment themes that are decidely contrarian. That means that few like the concept, the sector or the stock. The themes must meet several important critera:

Negative sentiment and/or polling
Analyst skepticism
Modest valuations

and most importantly -- hatred.