It's a bountiful Thanksgiving with major indexes hitting new records on Wednesday.
 | FRI, NOV 29, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 151.38 | -0.94 | -0.62% | | AAPL | 267.25 | -0.59 | -0.22% | | CSCO | 45.31 | +0.07 | +0.15% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | GE | 11.29 | UNCH | UNCH | | AMD | 39.15 | -0.26 | -0.66% | | BAC | 33.34 | -0.08 | -0.24% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 39.15 | -0.26 | -0.66% | | MSFT | 151.38 | -0.94 | -0.62% | | AAPL | 267.25 | -0.59 | -0.22% | |
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Does Warren Buffett know something the average investor does not? Usually.
Buffett has been outbid on a deal to acquire a hot tech company, possibly signaling its price was getting too rich. CNBC's Yun Li writes that it could also be a sign the market overall is overpriced.
The S&P 500 is up more than 25% this year, sending its forward price-to-earnings ratio to levels not seen since last December, when the market took a frightening nose dive.
 "Prices are sky-high for businesses possessing decent long-term prospects," Buffett said in his most recent annual letter. We could be nearing a time for the market to take a breather, though many market observers remain bullish because, aside from last year, December is typically one of the best months for stocks. Stocks were down, however, in Friday's trading. It was a shortened session, ending at 1 p.m. ET for the stock market and 2 p.m. for bond trading, heading into the rest of the holiday weekend. It's been a great November though with the S&P 500 up the most since June. See you in December. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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