It is certainly a risk if you have new money in the market now with these kind of price- earnings ratios, ... If you're queasy about drops and ups and downs this might be a time to be a little cautious.

There are risks that inflation could heat up at bit and therefore the risk that the Fed might have to be a bit more vigilant than the market expects is the thing that makes me the most cautious.

This way, if there are any problems, all the retirement money isn't at risk.

[Two thoughts. First, savvy investors have long ignored the cost of goodwill amortization in valuing a company (many prefer cash now).] It's just cosmetics, ... If companies soar in value for the sole reason of this accounting change, I would take advantage of it and sell those stocks.

The confidence in U.S. equities is just not there.

The referral of Iran to the U.N. Security Council suggests that the crisis might have legs as the world tries to stop the Iranians from developing nuclear weapons. It does not matter what happens in Iran, it is the uncertainty about Iran that tends to be very bad for markets.