Time to sell?

All stock indexes are at historic highs.  We have seen this movie before; remember 1987, 1999 and 2007?  A sharp drop has to be around the corner, right?

Not so fast, say some financial experts at leading business schools quoted in a recent NYT story.  NYU Stern's Richard Sylla (formerly a colleague here at NC State) has shown that buying at market highs sometimes ends up being a wise strategy.  Wharton's Jeremy Siegel says potential buyers need to look carefully at market fundamentals, which he thinks support further increases in stock prices.