A reminder that whatever the headline, when it comes to investing, do not do anything rash.

I'm David Bruncatchew in Los Angeles. First, there's news. The Iran conflict's effect on gas prices has driven up the consumer price index, which shows today prices up 9 tenths percent in March, up 3.3 percent in a year, the highest in two years, gasoline

up 21 percent last month. The keynote here today is a conversation with the Princeton

economics professor who has argued for half a century that she cannot time when to get in or

out of stocks. Burton Malkiel, Princeton Professor Emeritus as author of what is arguably the most influential investing book of all time,

a random walk down Wall Street, now in a 13th edition.

Here's an excerpt from our conversation about concern now that stocks related to artificial intelligence are a bubble that could pop.

Is it possible that we are in the midst of an AI bubble? Absolutely. We have had bubbles in the

stock market with every revolutionary event. We had this with the Internet revolution when the market then collapsed and went down

40% between the beginning of 2000 and the end of 2002. But we don't know if we're in the top of the

third inning of an AI bubble or the bottom of the night.

Now, some say it's a bubble. Others say relax. I personally never relax. But for those worried, it's a bubble that could pop. What should they do, given your experience over more than half a century?

For those listeners who are worried, the market is a lot lower in terms of its prices relative to earnings today than they were at the top of the Internet bubble.

When a lot of those Internet companies sold at 100 times earnings or more,

the market's not cheap today, but it is far more reasonably priced than it was then.

Yes, rebalance.

If your equities are too large now,

definitely rebalance.

Do not.

Do not try to time the market.

You'll never get it right.

Random walk author, Burton Malkiel,

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