Key Points Stocks have climbed to lofty valuations recently, and Warren Buffett is concerned. In 1999, Buffett warned against speculating in tech stocks, which he saw as overrunning fundamentals. Buffett's words remind investors today to be selective and sharp-sighted. 10 stocks we like better than S&P 500 Index › When you look at the stock market today you might get an eerie sense of déjú vu. A radical new technology is capturing investors' imaginations, capital is pouring into companies Wall Street believes will dominate, and valuations are climbing to levels that seemed unthinkable only a few years before.
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