This look great until they do not. Looking at many stocks would you own them at current valuations if you did not expect massive future growth... Or some other

This look great until they do not. Looking at many stocks would you own them at current valuations if you did not expect massive future growth... Or some other speculative valuation future. Same can be said for houses and commercial real estate. Why not art and collectibles as well. In many cases one could think that prices really do not make always lot of sense. But nearly everyone wants them to go up. So lot is done to make them go up.