Should You Buy Stocks Now or Wait for a Pullback? History Offers a Clear Answer

U.S. stock indexes have kept pushing to new highs, with the S&P 500, Nasdaq Composite and Dow Jones Industrial Average all recently posting record levels after only a modest pullback. The article argues that, while valuations have risen along with the market, trying to wait for a correction is difficult to justify historically. It cites the S&P 500 Shiller CAPE ratio at 41.1, the second-highest level ever, compared with 44 in 2000, when the market later declined for three straight years. It notes investors who stopped in 2023 would have missed an 18% gain in the past year. Studies referenced claim positive returns across rolling 20-year and 12-year periods since 1936 and 1972.