The money influx won't stop, it will get worse over the next few years. Consider the case of Europe. Negative yield curves but trillions in pension funds that

The money influx won't stop, it will get worse over the next few years. Consider the case of Europe. Negative yield curves but trillions in pension funds that need a positive nominal return (5% or so). If they invest even a portion of their portfolios in negative yielding bonds they then need to buy assets with growth potential to even it out, with PE and VC being the most attractive due to their illiquidity ironically. This isn't like 00 when you could sell NASDAQ and buy US government bonds yielding 6.5%..