Larry Fink (BlackRock CEO) has said that one must remain invested, no letting money sit idle in the bank:

and I think the message is very good. Yes. He's right but... this gentleman's business depends on all of us being invested. Fink hasn't come to protect us; he's come to get rich at all costs.

When the message is calm at highs, the market is usually doing something else: the famous distribution. So much good news at highs makes me think someone is selling. It's pure psychology.

Irrational exuberance?

Well, I think there's some, but it's very selective.

AI, South Korea, expectations... Meanwhile, the boring stuff remains ignored.

So, where should one be?

Because the market falls when everyone is calm and, if possible, in collective euphoria, and being on the wave of these rises is normal. Taking advantage of this profitability is smart. How long will this wonderful situation of continuous highs last? Nobody knows, but right now it seems normal to make money.

Not investment advice, just my personal opinion.