Today Warren Buffett thinks that stocks are in a "zone of reasonableness."
He claims that five or 10 years from now stocks are likely to be considerably higher.
Of course five years ago Buffett went public with his opinion that stocks were very cheap.
Buffett was asked about the "shale boom" and how important it is for America. He thinks it is a great reduction in the amount of money that the U.S. has to ship overseas, but he did not comment on the future price of oil.