I agree that Forward PEs, revenue growth rates, and GDP growth is important. And put that all relative to itself on a graph over time to give it comparison, context and background.

Market corrections and panics will happen, and that is something to be prepared for.

With that said, I try to remember that being in record territory is actually normal. Whenever a graph moves upward to the right over time, it continues to break previous records. It makes mathematical sense. Ignore the dollar sign, and just think of the math of it. The fact that we broke another stock record is somewhat irrelevant in a growing economy with a little inflation.

What is more relevant is if the current price has outpaced the underlying value, and forward growth rates.

Don't be afraid of record breaking. If we are all committed to compounding over time, we will continue to move upward and to the right.