One of my favorite Wall Street clichés relating to stock market valuations goes something like this: "Valuations don't matter until they do, and then they matter a lot."

Actually, you can probably replace the word valuations with any issue you'd like and the phrase would still work. However, since valuations continue to be a rather hot topic in the market these days, I thought I'd spend some additional time on the subject this morning.

If you will recall, we did a pretty thorough review of valuations last month. And frankly, I thought we had exhausted the subject.

However, I talk to financial advisors every single day and stock market valuations continue to be a topic that nearly everybody I chat with is concerned about. The conversation usually goes something like this... "Dave, why should we invest in stocks when valuations are so high? Why don't we just wait until the next crisis hits and then buy when prices are lower?" (Go ahead; I dare you to try and tell me these thoughts haven't crossed your mind at some point this year!)

The primary problem with the idea of selling now and waiting for valuations to improve is one of timing. The concept certainly makes sense. Sell high, buy low. What's not to like?

The issue, of course, is knowing when to sell and then when to buy. (And no, I won't be offended if you utter the word, "Duh!" right about now.) But here's a tip - implementing such a strategy based on stock market valuations ain't as easy as it sounds.

The point to this morning's meandering market missive is that the general consensus that one should sell when valuations are high and then buy when valuations have improved actually doesn't work very well. And the folks at Goldman ...

To say that the stock market has become a low-volatility game this year is definitely an understatement. For example, it has now been two months since the last time the S&P 500 dropped by 1% or more and according to ...

Good morning. We've got a new week on tap so let's get started with a review of my key market models/indicators and see where we stand. To review, the primary goal of this exercise is to try and remove any ...

I have written many times about the tendency for the market to follow various seasonal patterns. Frankly, it is eerie how often the S&P 500 winds up mirroring these historical cycles. To be sure, the market doesn't always follow the ...

Don't look now fans, but the United States is enjoying one of the longest economic expansions in history. In fact, First Trust tells us that if the economy can avoid slipping into recession for the next 18 months, this will ...

Good morning. Although we're getting a late start to the week, market analysis definitely falls into the "better late than never" category. So, let's go ahead and review my key market models/indicators and see where we stand. To review, the ...

As I have mentioned a time or two in the past, I think one of the biggest lessons investors (professional or otherwise) need to learn is to put the T.V. on mute, to avoid reading everything on the internet, to ...

Good morning. Sadly, the first week of October starts with the news of the deadliest gunman attack in U.S. history. So, let me first say that our thoughts and prayers go out to the victims, the injured, and all those ...

As long-time readers are likely aware, I believe in trying to keep portfolios "in tune" with the primary market trend. In this case, we're talking about the bull market in stocks, which began either on March 9, 2009, September 26, ...

I've spent a fair amount time recently talking about the various risks of the current market environment. In short, my view is that risk factors are elevated at this time from a macro perspective. I have suggested that this is ...

Yesterday's dive in the high profile FAANGs, which was highlighted by a $7.87 (4.49%) decline in Facebook (NYSE: FB) led to renewed discussion in the bear camp about the risk levels in the overall market. To hear the our furry ...

Good Monday morning and welcome back. It's a new week, so let's start things off with an objective review of my key market models/indicators and see where we stand. To review, the primary goal of this exercise is to try ...