Does anyone have a legitimate long-term bull case here?

by Blizzgrarg

Since we’re trading fairly close to ATHs now, I feel like it’s an appropriate time to ask this question. Does anyone here have a legitimate case for why parking my money in equities at these current prices is a good long-term value investment? (no meme answers please)

I realize that the Fed, FOMO, and various other factors may cause people to feel obligated to buy into equities, but those factors don’t increase the underlying value of the stocks in question. Everywhere I look, I still see companies going bankrupt or projecting depressed earnings for a good period of time. The main reason I see people are buying stocks is that they’re looking for returns created by the expectation that other people will pay more down the line.

Nowhere do I see people projecting great earnings growth and a favorable environment given the now (more) massive amount of debt we have to service. P/E ratios have expanded. With more debt, the risks of stocks in general have also increased (liquidity =/= solvency). The Fed tried to raise rates last year just a little and markets freaked out. It feels like our economy can no longer handle higher rates of any sort. In my book, that’s a HUGE warning sign, particularly given that we’re already at 0%.

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Sitting in cash, I realize I missed out on the returns of the recent FOMO. But I can’t help that the whole equities market is just one massive bomb waiting to blow up, if not now then sometime down the line in the near future.

So, can any of you convince me that it’s a good idea for me to buy in right now and be able to sleep well for the next couple of years?