With the DOW closing today at 13,881 where the all time (2007) high was 14,098... it’s hard to consider getting back in (100% cash currently). Seems like the only place for this puppy to go is down, and buying at the top ain’t my idea of investing...
But on the other hand, it may be that Barry and his minions will continue to prop up the market and get it to new highs in the next two years before the next election.
Since the dollar has lost approximately 24% of it’s value during the last 5 years, the DOW would have to top 17,500 in today’s $ to equal 2007’s high of 14,164.
You do realize that every previous “all-time high” has since been superseded?
P/E ratios are getting a bit pricey—around 16-18, depending on which index you’re looking at. That’s a bit higher than the historical average, but it’s nowhere near 40 or 400, as we’ve seen in previous bubbles.
I doubt I would get all in now if I were in cash, but I don’t think it’s time to head for the hills, either.