Buffett: Market fairly priced; hard finding things to buy

|By:, SA News Editor

"We're having a hard time finding things to buy," says Warren Buffett (BRK.A, BRK.B), who feels the stock market is essentially fairly priced at the moment. Appearing with Bank of America (BAC) CEO Brian Moynihan, Buffett stumps for his choice for next Fed chief: Ben Bernanke. "He's done a terrific job."

Buffett does allow that higher interest rates have inflated stock prices and warns about a QE exit - "Buying securities is usually easier than selling securities."

Moynihan doesn't rock his large investor's boat: "You have an economy ... growing at 1.5-2% ... until unemployment is down, (Bernanke) has to keep this economy going in the right direction."