Source: http://www.ritholtz.com/blog/2012/03/bottoms-up/
The market marked the third year of bull run a few days ago. As you can see in the chart, valuation wise is not expensive and looks reasonable. I still have my worries though.
I did a bull run study a while back(http://turtleinvestor888.blogspot.com/2009/07/study-of-bull-markets.html). An average bull run is about 3.89 years. I do not how much longer it will continue to run but I'm still waiting for a significant pull back (10-12%) before moving some funds.
i'm thinking of liquidating a portion of my portfolio and hoarding more cash for the next downturn. most analysts will agree with what you think - that we're almost at the top of the hill now
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