Is the Market Too Expensive?

What does a professional money manager really mean when they say they've gone defensive? Sometimes it means moving from 2% cash to 4%.

Headlines everywhere say the stock market is expensive, and Colin and Greg acknowledge some of those warnings may well be true. But they ask a tougher question: if the market is pricey, what are you actually supposed to do about it?

They dig into valuation measures like the CAPE ratio, revisit what happened to investors who called the tech bubble too early, and explain why Greg sees selling stocks as a two decision problem. Getting out is hard. Getting back in may be harder.

Plus, a detour into why canned sardines are suddenly vanishing from store shelves.

Colin's takeaway? Don't make a 30 year investment decision based on a six month market prediction.