Any Dividend Growth Stocks on Sale?

[hendi_alex]

Most are trading near or at the upper range of five year price chart. Valuations might look o.k. but just looking at the price alone makes me very gun shy. Valuations are very fickle things, as earnings have the ability to fall off of a cliff during the unfolding of very uncertain events. This is looking like the 70's and 80's to me, where we are just at the front end. When this relentless government printing press catches up with us, high interest rates are going to put us into an entirely different ball game. According to what I've heard and read that interest rates run over very long cycles. The current trend has been in place since the early 1980's and has reached what is obviously an unsustainable level. I think that the bottom took place in July of 2012, and now we are on the other side of the slope, for very many years to come. The entire investing horizon for many of us will take place under a totally different set of rules. None of us even have a clue what effect 1980's style rates will have on our investment portfolios. IMO now is a time to stay nimble, and to remain poised to feather into the new reality, not to be caught anywhere close to 100% long in any particular investment class. There will come a time when bonds are the place to be, and at that time stocks will be dramatic under performers, both in terms of cash flow and in terms of total return.

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Also, it is good to keep in mind that virtually 100% of the current stock market valuation is artificial, created by Fed manipulation of interest rates. Free money to banks and to industry has inflated profits to the point that [they look too good to be true]. We all know the usual result when things look 'too good to be true'.