Time To Buy Stocks?

Felix Salmon wouldn’t bet on it:

There’s a very good chance that the stock market won’t decline in nominal terms for the next 40 years. But the very fact that we’re so obsessed with it is worrying. A world where people obsess over one-day movements in the Dow is not a world where stocks feel like a remotely safe investment: it’s a world where they’re a high-volatility gamble.

Nor would Leonhardt:

…stocks are a little less expensive than their historical average. But they are far more expensive than they were at the worst points of the other two worst recessions of the past century.