BMW & bargains in plain sight

If the bears are to be believed, we are living in a world of overvalued global markets inflated by excessive central bank stimulus, that offer investors the torturous combination of scant opportunity and substantial systemic risk. I do not see this narrative in my portfolio. Sure, there are parts of global markets that are expensive - notably yield-proxies, and parts of the tech industry. However, there are still plenty of bargains in other parts of the market hiding in plain sight.