Why it's better to buy stocks at record highs than wait for the next crash

Record highs are making some investors hesitate, but the underlying math of bull markets can cut the other way. The S&P 500 notched its 27th record close of 2026 last week, and one reader said he’s waiting because Michael Burry has warned about another crash. The article argues that “buying high” has historically worked: one year after an all-time high, the S&P 500 was higher 81% of the time, averaging nearly 14% returns; over five years, it was higher 86% of the time with annual returns around 10%. Corrections can still come, but timing is uncertain—waiting for a 20% drop could mean buying at a higher price first.