Valuation-Informed Indexing #425: Any Benefit to Living Through a Long Era of High Stock Prices That Eventually Ends?

I’ve posted Entry #425 to my weekly Valuation-Informed Indexing column at the Value Walk site. It’s called Any Benefit to Living Through a Long Era of High Stock Prices That Eventually Ends?

Juicy Excerpt: I don’t think that there is any benefit to be had from living through a time when prices remain high for many years. There would be a benefit if prices could remain high indefinitely. You would have more money. But presuming that prices are sooner or later going to come down, what is the benefit? You get to enjoy a feeling of being wealthy for a longer stretch of time. But what good is that feeling if it does not last? You end up in the same place as if prices had returned to fair-value levels much earlier.