Well, sure, but it's been heavily overvalued territory for a couple years now. I'm not sure the quote about 200% is really relevant anymore, as (as far as I understand it) the "reasonable" bounds in terms of percentage are thought to increase over time, owing to increasing global trade (which of course might now be decreasing).
Right, knowing something is overvalued or undervalued doesn’t tell you much about how to use that information. You have to be right at the right time. Right and lucky.
This says more about the value of the dollar than it says about the stock market. Of course assets are going to be overheated, no one wants to sit on cash.
https://totalrealreturns.com/ I always like to keep an eye on this chart just for a rough feel on how over/undervalued the market is. I'm sure it has plenty of faults, but I think it's pretty fair to say the market is in an abnormal state right now - both stocks and bonds are divergent from historic trends.
Readit News
Many people are not as safe or diversified as they think they are.
I'd like to remind people that your profession should be part of your diversification decisions. (At least for those of us in the working class.)
For example, as a software developer, I am already tightly exposed to risks in the software sector even before I invest a single dollar.
You want to minimize the chance/amount that your investments implode at the same time you lose your job, which might force you to "sell low".
https://www.slickcharts.com/sp500
Either way, just because something is overvalued, doesn't mean you'll make money selling it.