Heights can be dizzying.

But there’s no reason to fear buying stocks at records.

In a blog post, Meb Faber, co-founder and chief investment officer of Cambria Investment Management, found that buying stocks at all-time peaks — and otherwise being in government bonds — returned more than just holding stocks.

Buy at highs? Why not?

Faber did point out that he wasn’t suggesting buying at highs as a strategy, but merely pointing out that it’s no reason not to purchase equities.

Standard & Poor’s performed a similar analysis. Historically, the S&P 500 SPX, +1.59% has tended to keep going up after reaching new highs, posting an average gain of 12.34% in the 12 months following a new record close.