And if you bought in one month ago today, you're up 29%.
Yes, this lunacy will cost us in immeasurable ways including completing wiping out many. But while I'm not putting any cash in the market today, I sure hope to before this year ends.
Look at a chart for 1929 through 1932. Somebody who invested in November or December 1929 did great (like your "up 29%" comment). And then April of 1930, a long, painful ride down happens. There are similar patterns in the 1960s to 1970s.
My point: Trying to guess the bottom is a fool's errand. For somebody who has $50K that they will never need to live on (job will never go away, or other sources of wealth), sure, risk it.
What I'm saying: Don't assume the worst is behind us. Foolish to bet your lunch money.