LONDON -- The FTSE 100 (INDEX: ^FTSE) has finally beaten its pre-crisis 2007 high, closing today at 6,804 points to record its highest level since September 2000.
Just like 2007, the stock market has been buoyant and optimistic in 2013, having rallied by more than 20% since November alone. The financial crisis suddenly seems like a distant memory, while phrases such as "fiscal cliff" and "eurozone debt crisis" have been cast aside. The market seems to make new highs every day, but should investors heed the advice of legendary investor Warren Buffett and "be fearful when others are greedy and greedy when others are fearful"?
Savers with new money to invest may be wondering whether it's sensible to buy shares now that the FTSE is back at its 2007 heights. Existing shareholders, meanwhile, might be wondering whether the latest FTSE high could be a signal to sell.
Here at The Motley Fool, we try to avoid predicting what the stock market is going to do next. We prefer to focus on the underlying businesses of the companies we invest in. We view the price and value of each business individually, and we tend to invest without worrying about short-term price movements or wider market sentiment.
With that in mind, I think there could still be some highly attractive opportunities for the selective investor in 2013. While stocks as a whole aren't so cheap as they were during the depths of the financial crisis, there are still some superb individual businesses available at reasonable prices for long-term investment today.
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