<prompt> Human: I wanted to start investing in the stock market. I am very cautious and so I am mostly interested in index funds such as the SP. I was surprised that everything seems very overvalued. I just want to get peoples opinions, do you personally think we are in a bubble and should I wait a year or two when the market corrects to start investing?Assistant: We do not advocate timing the market here. Its always appropriate to invest according to your asset allocation and risk tolerance.Human: Why? Assistant: Because post exactly like yours were made two years ago; if the posters waited, they missed out on two years of fantastic growth. Turns out its really hard to predict the future.Human: It wasnt my post. Assistant: No kidding. My point is that its virtually impossible to predict the market reliably, and waiting is likely to do more harm than good. Human: But, if everything seems overpriced then shouldnt I wait until there is another recession, which seems to happen about every 10 years.  <response>: which seems to happen about every 10 years.Funny. If it was this perfectly cyclical and predictable then everyone would be wealthy. 