Stock valuations are too hot for the "Oracle of Omaha" right now.

History often repeats itself if you wait long enough. For example, the S&P 500 ( ^GSPC -0.06% ) recently posted positive returns of at least 1% in May, June, July, and August for only the second time in 32 years. More than 90% of the trading volume and 90% of the stocks on the New York Stock Exchange gained ground on Aug. 22, 2025. That's only happened 14 times since 1980, according to Ryan Detrick, chief market strategist at financial services company Carson Group.

Sometimes, though, stocks set entirely new ground for which there is no historical precedent. The stock market did something last week that it has never done before. And Warren Buffett has given a dire warning for investors.

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