The Globe and Mail reports in its Saturday edition that the odds of a market crash is a question investors should periodically ask. The Globe's Ian McGugan writes that these days, the market's assumptions and yours may be miles apart. Judging from surveys of consumer sentiment, many retail investors are convinced a market crash is nigh. Oddly, the high level of anxiety is not reflected in the metrics. For the most part, Wall Street experts are still upbeat about what lies ahead. History suggests that even when stock market valuations are as high as they are now, the historical probability of a market crash in any given year ticks up to only about 10 per cent. This modest level of risk is pretty much in line with what other financial indicators are signalling. The confidence on display in the options market is in keeping with the upbeat industry comments. Bank of America forecasts that the S&P 500 will edge up from its current level around 6,800 and hit 7,100 in 2026. However, with valuations at nosebleed levels, Main Street investors are wise to edge toward safety. That does not mean abandoning the stock market, but it does mean building up a significant buffer of safer assets, such as bonds and cash, just in case.