I Am Not a Perma Bear, But I Cannot Buy This Market

I am not a perma bear. I believe in equities, innovation, and long-term wealth creation. Markets rise more often than they fall, and betting against human progress is usually a mistake. But sometimes risk becomes too obvious to ignore. For me, that happened in March 2026. I sold all my stocks because I believed the market had moved from expensive to irrational. Since then, the market has gone parabolic, and missing that rally has been painful. Even so, I cannot buy back in. The first problem is