Agree! I admire the work of Robert Shiller on the irrational exuberance in the market. Inspired by Benjamin Graham's value investing, he has devised CAPE which is a metric predicting the expected future returns of the market based on the past performance. The current CAPE for the S&P 500 with dividends reinvested is sitting at 33.6 which is almost 2 standard deviation higher than the historical average (https://www.sigmean.com/). There were only two times that the total return CAPE have been higher than the current valuation: July 1929 at 38 and June 1999 at 48. And we all know that what happened after two times...