[Buffett]  noted that the equity market was fairly valued and stocks were not overvalued.  Specifically, Buffett said “They were very cheap five years ago, ridiculously cheap,” and “That’s been corrected.”  He also noted, “We’re having a hard time finding things to buy.” One has to take note when the world’s most high profile investor (a long investor), cannot find stocks to buy although he reports his business is improving.  Buffett was not the only Billionaire to weigh in last week.  Carl Icahn responded candidly when asked his view on the market.  “Right now, the market is giving you a false picture. 

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