Investing in a Low Return World

The stock market is back near the high reached in february and selling at an above average valuation. Everything appears to be fairly priced relative to everything else, but nothing is cheap thanks to the low base interest rate. Since most investors haven't reduced their required or targeted returns, they have to engage in elevated risk in order to pursue them. Invest as you always have and settle for to day's low returns. Reduce risk in deference to the high level of uncertainty and accept even lower returns.