However, major problems could lie ahead. The stock market is doing something it has never done before -- and investors could be "playing with fire," according to Warren Buffett.

Warren Buffett passing on purchasing shares of Berkshire's stock when his company's cash pile is sitting at a record high ($325 billion) signifies that one of Wall Street's most ardent value investors is struggling to find a good deal. Berkshire's price-to-book value recently hit levels that haven't been consistently observed since 2008.

Despite being a net seller of stocks to the tune of $166 billion over the last eight quarters, there are two premier stocks the Oracle of Omaha can't stop buying.