From The Pragmatic Capitalist:

Bill Gross, arguably the most powerful money manager in the world, has joined the ranks of Jeremy Grantham in saying stocks have risen due to artificial influences and are now substantially overvalued. In his latest monthly outlook Gross says “almost all assets appear to be overvalued on a long-term basis”.

He goes on to explain the long-term artificial price climb and the influence it has had on investors:

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