Share price run up into earnings, page-32

Food for thought. I had similar reasoning to above holders who are now reducing. I sold all the way from 20 into the high 20s. The SP then receeded to 24 dollars recently and I passed on it thinking it was still overvalued. I had my ideal top up price at 21 dollars. Fast forward to news regarding Philips recall and the stock price was 32 dollars. Kicked myself for not buying at 24 when I had the chance.
kept watching the price go up... and here were are now today I bought at 39.4... by far the highest price I have paid and some 25% more than the highest price I have sold at.
I have only been investing a few years and I have learned, like many others say, stocks that seem very expensive usually stay very expensive. I can't do the numbers to justify such lofty valuations but the market is reasonably good at valuation for me. My rule from now on will be to top up at dips ideally slightly below the 200ma.

I have tried buying stocks that appear cheap and had some success with the likes of A2m and APX. However eventually all my gains were wiped off. I went back and checked where I have made the most money and it's these blue chip stocks like RMD and CSL that over the long run have made me the most money and I add with the least stress. Yes there are other cheaper stocks out there and their stock price may go up significantly but if one invests in a few stocks like that, on balance the gains aren't that impressive. It takes just one bad call to erase most gains.
I understand that the PE ratio of these high flying stocks is stretched due to low interest rates and all that carry on. But there is no point in trying to time if or when this will change. There arent many companies on the ASX that have a 20 year plus history of revenue and profit growth in almost every year. I think that any compang that is the absolute global leader in their space will always trade at a high PE ratio even if the interest rates dropped and will fare well in bad economic conditions.

Glad to be holding and what I like about these well established stocks is that if there is a large dip in the SP it actually is good news because you can buy more with peace of mind knowing there is a high likelihood the SP will go back up. When one invests in value stocks and the price goes even lower than what was thought to be a bargain its much more of a worry