Is it too late for someone sitting in cash to buy at these high prices?
A: I would like to say to you that it is never too late, and that it is “time in the market” rather than “timing” that counts, but if you are 100% invested in cash, I don’t think you are up to investing in shares. There is nothing wrong with a strategy that preserves capital.
I don’t try to pick bottoms or tops (I know I can’t), but rather, follow the trend and when it gets more expensive, lighten off, and when it is cheaper, increase the exposure.
At the moment, the uptrend is intact so its right to play it from the long side. But I am not increasing my exposure as the market is moving into the expensive (more bullish) phase.