The stock market continues to set new highs, which is exciting and fun for those of us who own stocks. I own stocks, so I'm certainly enjoying it. I hope stocks continue to charge higher through 2014, but I can't find much data to suggest that they will. I only have a vague hope that the Fed will continue to pump air into the balloon, the U.S. economy will finally start cranking again, and corporations will continue to find ways to cut more costs and grow their already record-high profit margins and earnings. Meanwhile, every valid valuation measure I look at suggests that stocks are at least 40% overvalued. That ... (full story)