Count 'em up—that makes 12.
Don't get me wrong. I am not making any kind of call on these stocks, and any one of them could make a big comeback. But I hope you see my point. If stocks were really and truly in a bubble, we'd expect a much greater amount of forgiveness on the part of investors. But instead, investors are being discerning in their choice of stocks to buy.
Read More10 sane thoughts that explain Apple's crazy car plans
I can certainly point out a few examples of companies whose stocks are at record highs; after all, the S&P 500and Dow Jones Industrial averages are at new highs, and the Nasdaq has reached its 15-year-old high. So who is pleasing investors with good corporate results? I'd say that these are among the most talked about. Apple. Visa. Under Armour.
Corrections and bear markets always have a place in markets, so investors have to build those assumptions into an investment strategy. And a swift 20 percent correction in stocks may get the bubble-paranoid crowd out in full force—it will test investor confidence for sure. But with so many investors already trigger happy and selling disappointing stocks, I believe excess valuations to a large extent will have already been wrung out.
So move along, folks. No bubble to see here.
—By Mitch Goldberg, president of ClientFirst Strategy, a Dix Hills, New York-based investment firm.
Follow Mitch at @Mitch_Goldberg