Buffett says stocks in zone of reasonableness
“I would say that they're in a zone of reasonableness,” Buffett said. Five years ago, I wrote an article for The New York Times that said they were very cheap. And every now and then, you can see that that they're very overpriced or very underpriced. Most of the time, they're in an area where maybe they're a little high, a little low, and nobody really knows exactly. They're definitely not way overpriced. They're definitely not underpriced.”
Buffett comments were in a live interview on “CBS This Morning” today, responding to activist investor Carl Icahn's comments, in which he said that as the Dow Jones Industrial Average touches 16,000 for the first time, stocks appear to be overpriced.