Buffett: stock prices would be high if rates were 'normal'

Billionaire investor Warren Buffett said on Saturday that stock prices would appear expensive if interest rates normalized from their ultra-low levels. "If we get back to normal interest rates, stocks at these prices will look high," said Buffett, speaking at the annual shareholders' meeting of his sprawling conglomerate Berkshire Hathaway Inc. While he often emphasizes the importance of not basing long-term investing decisions on short-term economic expectations, his views on the U.S. and globa