As the stock market reaches new heights and valuation multiples tick higher, more investors are wondering if we are entering into "bubble-territory." Does all of this mean we are due for a big crash?

In the following video from The Motley Fool's everything-financial show, Where the Money Is, analysts David Hanson and Matt Koppenheffer are joined by economics aficionado Morgan Housel to discuss why the picture is more complicated than just some common valuation multiples hovering above long-term averages.

Morgan highlights the importance of international profits and the irreparable damage from missing the next bull market.

David Hanson has no position in any stocks mentioned. Matt Koppenheffer has no position in any stocks mentioned. Fool contributor Morgan Housel has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.