Warren Buffett says it is "quite clear stocks are cheaper than bonds" right now, but notes that relationship will change eventually when confidence in the economy is inevitably restored.
In an appearance earlier today (Tuesday) at the Fortune Most Powerful Women Conference in Washington, Buffett said he "can't imagine" choosing bonds over stocks at current prices, but concedes that's what many investors have been doing because of a "lack of confidence" in the economy's future. "They're making a mistake, the ones that are buying the bonds" at record low yields.