Buffett Says U.S. Stocks ‘Fairly Valued’

Berkshire Hathaway Inc. Chairman Warren Buffett said U.S. stocks are “fairly valued” and that his greatest market fear is that shares prices are so high he can’t find good values. “Most things [in the U.S. stock market] look fairly valued, but that is not a market prediction, that just means we don’t buy,” Buffett said. He said the best advice he could give investors is to study and buy only what they know. Buffett said Federal Reserve Board Chairman Alan Greenspan is doing a “great job” of monitoring the U.S. economy and markets. The Fed raised benchmark interest rates by 0.25 of a percentage point at its most-recent meeting in an effort to “preempt” inflation. Berkshire Hathaway will hold its annual meeting today at its headquarters in Omaha, Neb. About 8,000 shareholders from around world are expected to attend.