[sambaumann]

For reference when this was written in 2018, a P/E of the S&P of 24 was considered inflated. It stands at 29.34 as of now.

[david-gpu]

It goes to show that time in the market beats timing the market. You may get lucky predicting a downturn, but it's just gambling at that point. Just look at the past century of returns across the world.