'Black Swan' author Nassim Taleb warns stocks are hugely overvalued, and the easy-money era is over for investors

• Nassim Taleb sees asset prices dropping, interest rates staying higher, and headaches for investors.
• The "Black Swan" author said the stock market is hugely overvalued relative to current rates.
• Taleb cited Warren Buffett as a guide for investors, and dismissed bitcoin as an inflation hedge.

Investors should brace for asset prices to plummet, interest rates to remain elevated, and outsized returns to dry up, Nassim Taleb has warned.

The Universa Investments adviser and author of "The Black Swan" said that stocks and other assets are too expensive relative to interest rates. US investors can now earn a risk-free, 4%-plus annual return from government bonds and savings accounts, he noted.