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Asset prices are high across the board. Is it time to worry?

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www.economist.com/news/leaders/21730019-ultra-loose-monetary-policy-coming-end-it-best-tread-carefully-asset-prices-are

October 7, 2017

In his classic, "The Intelligent Investor", first published in 1949, Benjamin Graham, a Wall Street sage, distilled what he called his secret of sound investment into three words: "margin of safety". The price paid for a stock or a bond should allow for human error, bad luck or, indeed, many things going wrong at once. In a troubled world of trade tiffs and nuclear braggadocio, such advice should be especially worth heeding. Yet rarely have so many asset classes--from stocks to bonds to property to bitcoins--exhibited such a sense of invulnerability.

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