From Dividend Monk:
Value isn’t always cheap. Getting the highest-quality goods for a reasonable price can often be better than getting reasonable goods for a bargain price. Similarly, some of the most robust dividend-paying stocks to invest in for the long term tend to be at fairly lofty valuations.
However, the month of May and the beginning of June have been rather terrible months for the S&P 500. This past Friday has so far been the worst-performing market day of 2012.
For a long-term investor, however, this can pique some interest. These aren’t bargain-level prices by any stretch (like back in 2009), but after erasing 2012’s market gains, we’re at a more comfortable market level. Some of the edge has been taken off. An assortment of the sturdiest, strongest companies around have taken a bit of a dent in their stock prices, so long-term investors may be taking notice…