Highly insightful. The pandemic stimulus isn't the only cause though, more like the icing on the cake. The experimental QE and ZIRP policies probably won't be looked at too kindly 50 years from now when economists are still trying to understand and prevent another "Everything Bubble" from ever forming again.
The next 10-15 years for investors are likely to be much more challenging than the last. How do you navigate such a climate with extreme overvaluation in all asset classes? That's why I'm building sophisticated algotrading models at https://grizzlybulls.com to help determine when to hedge and produce positive absolute returns regardless of market environment.