Don't be scared... ?
In a blog post, Meb Faber, co-founder and chief investment officer of Cambria Investment Management, found that buying stocks at all-time peaks — and otherwise being in government bonds — returned more than just holding stocks.
Faber did point out that he wasn’t suggesting buying at highs as a strategy, but merely pointing out that it’s no reason not to purchase equities. On Wednesday, the Dow Jones Industrial Average DJIA, +0.66% and the S&P 500 SPX, +0.27% finished at their second-highest level in history, and the Nasdaq Composite COMP, +0.28% finished at the third-best level.
Steve Goldstein Steve Goldstein is MarketWatch markets editor for Europe. Follow him on Twitter: @MKTWgoldstein.
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