"It could go on for another year or two. Of course, there are two
forces. Growth is slow. Earnings growth is also slowing down. Top line
and bottom line are not as good as they used to be, but margins are
high. They could correct, somehow, over time.
But you have the
gravitational forces of slow economy leading eventually to correction,
but then the levitational forces of QEs, zero policy rates, more money
coming in the market – not just from the U.S., but from other economies –
it's going to levitate asset prices.

So, as I pointed out,
this might lead to a generalized credit and equity and asset bubble in
the next year or two, followed by a crash. But for the next year or so,
as long as the economy grows 1.5-2 percent, and you have easy money,
this market can go higher. "-
in Business Insider