Stock Market - New Investor | Page 4 | Investing | Discussion forum

As Mordko said or essentially said (I may be paraphrasing), market valuations (P/E) are the sum of the beliefs of all investors of forward earnings of the stocks in that particular index. Forward expected earnings may be overstated or understated at the current time. No one knows.

We have had a bull market since the lows of 2022. It may continue for days....or years but in hindsight had we not stayed invested the last 3+ years despite valuation increases, we would still be sitting on our hands. We will only know in hindsight, perhaps next quarter, or next year.

I will always be fully invested because the market WILL be higher at some point in the future (that is the nature of capital markets, earnings and GDP growth et al) but I have no way of knowing how, when or where, nor the road to that future. Neither does anyone else.