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Well, BHP was just under $14 a year ago, which at the time was also an all-time high (at least for the data I've got back to 1997). The rate of increase since the previous May was about the same as the average since then, so it may well have looked overvalued even then. However, it's...

So you're saying it's not so much that the market is at an all-time high, but that it's higher than its average increase rate would suggest it should be now - ie. it's overvalued? In my experience, stocks you want to buy have a nasty habit of never returning to good value until just after...

I don't quite understand this "at an all time high" thing. The stock market has been rising on average for most of its life, so I'd assume that it has spent the majority of its time at an all time high. And congratulations, Bianca. That's a wonderful achievement. I haven't seen investing in...