Many financial assets are currently at high valuations compared to fundamental indicators and historical ratios. Due to QE and other unusual post-crisis effects

Many financial assets are currently at high valuations compared to fundamental indicators and historical ratios. Due to QE and other unusual post-crisis effects there is simply a huge amount of excess capital in the financial markets. Combine that with low-to-negative real interest rates and it is no surprise that a lot of risky seem overvalued (benchmarked to a world with normal money supply and interest rates).