Is the S&P 500 a Good Place to Buy?

Timothy Stanley: We're 15 times forward on the S&P depending on where you're bringing in that earnings estimate. That's not bad, but it's a long way off of where we were. At what point do you start nibbling here because there are great companies that are for sale right now? And this is one of the things, if you are someone who has a medium-term outlook or even a long-term outlook, being able to buy into this market creates opportunities.