With the S&P 500 at all-time highs, investors must be considering what is the best course of action for their investments. If we look at a long-term chart of the S&P 500, we can see that the run-up stocks are having at present is quite similar to the multi-year bull run equity markets also enjoyed up to the year 2000. However, when stocks topped that same year, it took the S&P 500 a good 12-plus years before the index broke out meaningfully to new highs.
The stock market, since its inception, has more or less averaged 7% growth per annum over the long term. However, as we've seen from the first 12-year period since the start of the century, returns were basically nil (excluding dividends), which could be a sign of things to come. Therefore, with sentiment and price at ultra-bullish levels at present, new investors are…