Valuations are high right now in many equity markets around the world.
But does that mean these stocks are overvalued, fair value or in four-alarm-fire territory?
Likewise, volatility, as measured by the Vix index showing the movement in the S&P 500 - often a bellwether for other equity market indices - has been spiking upwards ever since August, when "fire and fury" comments from the US President caused geopolitical uncertainty.
The Vix rose from a range between 8 and 9 up to 11.11 on 9 August and hitting 16 on 10 August, and is now settling back around 10.
But while politicians can make market-shaking statements, and while the effects of global disasters can cause short-term market tremors, what does the future really hold for investors?
This report aims to show exactly whether investors can trust valuations, where valuations may be slightly frothy and how advisers can help shore up their clients' portfolios against any future market shocks.
As Marcus Brookes, head of the multi-manager team at Schroders comments, while the US market is extremely expensive right now, other markets such as Europe and some emerging countries do look better value.
Moreover, what should investors be diversifying portfolios with, given the twin challenges of spiky volatility and overblown valuations?
The Talking Point report above explores why valuations are heating up in some markets, and how investors and their advisers can mitigate the effects of volatility while benefiting from growth markets.
Within the report is a feature which qualifies for 30 minutes' worth of structured CPD.