Agreed, though P/E for SP500 has not been as high as it is now since prior to the '01 & '08 market corrections. I'm hesitant to purchase equities at these lofty valuations. E.g. a P/E of ~40 (overall SP500) is equivalent to ~2.5% yield. So, unless growth is expected, that is not a great return for the risk, imho. I'm weighting my portfolio towards physical precious metals in hopes of preserving wealth, though who really knows what will happen at this point haha.