What other investments would you consider? To me, if there are bubbles going on, the stock market is in one as well, as is real estate, etc. I've looked at the other investments available, and they also either seem very inflated, with room to fall, or stagnant and not able to keep up with inflation.
I'd prefer to hold cash in a savings account, but the rates are so low now it just doesn't make sense to hold a lot in cash. I don't feel that safe in the stock market either.