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The stock-market rally presents a difficult choice for some individual investors: Miss out, or risk getting in at the top.

The scars of the financial crisis have left many wary, even as the second-longest bull run in S&P 500 history has added more than $14 trillion in value to the index since it bottomed in March 2009, according to S&P Dow Jones Indices. Yet there are signs that caution is dissipating.

Investors have poured money into stocks through passive mutual funds and exchange-traded funds in 2017, with global equity funds posting record net inflows in the week ended March 1 in data going back to 2000, according to fund tracker EPFR Global. …

...retiree, Peter Gallavin, 72, of Grand Rapids, Mich., says that while he is concerned about President Donald Trump and what his policies may do to the market, he is still investing in U.S. stocks through mutual funds.

“I can’t imagine anyone who isn’t concerned” about the stock market, says Mr. Gallavin. “Just the general uncertainty about what the new administration is going to do causes me concern.”

But Mr. Gallavin, who previously worked for General Motors Co. and as regional personnel director at Delphi Corp., says those concerns haven’t led him to alter his investments. Retired for 10 years, he has about 60% of his portfolio in mostly U.S. stock mutual funds.

“I’ve been investing in the market for long enough to know that sooner or later after it comes up, it’s going to go down, but when that may or may not happen none of us know,” he says.

His adviser, David Kudla, founder, chief executive and chief investment strategist of Mainstay Capital Management, LLC, of Grand Blanc, Mich., has been bullish on U.S. stocks since the election because he expects less regulation, plus tax cuts and infrastructure spending.

 

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