Two of the questions I hear regularly are “When to buy?” and “When to sell? Those kinds of inquiries suggest that there’s an absolute level at which a security is worth adding to one’s portfolio as well as a price when it’s time to say adios. It would be nice to think . . .
Although it seems as if the stock market can only go higher, that kind of thinking often leads to trouble. After an eight-year rally from the depths of early 2009, the leading averages continue to climb into new high territory, apparently in expectation of a substantial upturn in underlying corporate profitability. Whether that’s a reasonable possibility or fantasy is . . .