Investing in stable, boring companies (or markets) is a suckers game reserved for pension funds.
Or to put it differently, why invest in a company that isn't growing? How do you make money if you pay $X and don't expect the company to go beyond $X?
This is some of the worst investing advice I've ever heard. High valuation glamour investing in the way you describe has been widely discredited by academics as leading to poor returns. You can in fact slice the market into valuation deciles, and your returns on 5-10 yr rolling averages will increase as you step down to cheaper deciles.
Further, high valuation stocks are subject to much greater crashes while annual best deciles upside is spread across valuation deciles. Meaning High value stocks tend to be a poor bet.
Or to put it differently, why invest in a company that isn't growing? How do you make money if you pay $X and don't expect the company to go beyond $X?