Even as U.S. stock indexes hit all-time highs, Warren Buffett predicts they'll go "far higher" in the long run.
Right now, he very much favors equities over bonds, warning some investors could lose a lot of money in long-term fixed-income assets when interest rates eventually start to rise.
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Acknowledging that milestones like Dow 15,000 can draw Main Street's attention to stocks, Buffett said people should pay more attention when indexes cross those milestones on the way down because that's when stocks are "cheaper" and more attractive to buy.
While not as "cheap" as they were a few years ago, Buffett thinks stocks are now "reasonably priced" and not "ridiculously" high.