Buffett: If rates stay low then stocks are cheap

While the Berkshire Hathaway (BRK) annual shareholders’ meeting is always a big deal, this weekend’s edition took on special meaning. It marked Warren Buffett’s 50th anniversary running the company. At the AGM Buffett said his view of fair value for the market largely depends on interest rate settings. “If we get back to normal interest rates, stocks at these prices will look high” but “If we continue with these interest rates, stocks will look very cheap.” Either way, the great investor concedes he’s been wrong on both interest rates and inflation this time around… “It’s so hard for me to see how, if you toss money from helicopters you don’t have inflation, but we haven’t.” Read the WSJ blog on the event with full coverage here: (VIEW LINK)