The fed's views on QE and a rising stock market per Bernanke: "...higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion."
So, this means that in general, assets may be over priced from 5 years of QE. Now, as the fed tapers and raises rates, the price of everything will go up from borrowing costs and corporate profitability will decrease. No one really knows how fast and hard asset prices will move (or even if they will move) because this has never been done before. On top of that, the government seems to be operating at cross purposes, sort of bucking heads. The fed is trying to grow the economy (while watching inflation and unemployment) but the Obama admin's policies and rhetoric restrict it in the form of calls for higher taxes, Obamacare, regulations, class warfare and demonizing capitalism. It may not seem like it everyday, but this is a period of high risk and transition.