A version of this article first appeared on TKer.co It’s not hard to argue that stock market valuations are high. According to FactSet, the forward price-earnings (P/E) multiple for the S&P 500 is 22.9x, which is significantly above its 10-year average of 18.6x. So, what are we supposed to do with this information? Some people may be inclined to dial back their exposure to stocks under the assumption that prices are due for a correction. Some might sell everything. Some might even short the market. The ...