124 all-time highs since October 2022.

That's the thing about bull markets—they climb a wall of worry, then keep climbing. Most investors spent 2023 waiting for the crash that never came. Then 2024 waiting for a pullback to buy. Now here we are.

Record highs feel dangerous because they're unfamiliar. But markets don't peak because they hit new highs. They peak because everyone finally believes it's safe.

The irony: when you're most comfortable, that's when you should be cautious. When you're most nervous, that's usually when opportunity hides.

We've had 124 chances to feel like we missed it. The real question isn't whether we're at a top. It's whether you're positioned for what comes next—whenever that is.