We all love going to experts for advice. And who better to advise us on buying stocks than Warren Buffett? The Oracle of Omaha is known for investing in quality companies that are undervalued and holding them for the long term. He benefits once the stocks rise as the market recognizes their value.

His strategy clearly works. At the helm of Berkshire Hathaway, the billionaire investor has driven a compounded annual gain of nearly 20% over the past 57 years. That's compared to a little less than 10% for the S 500. So it makes sense to generally follow Buffett's advice.

But there was one particular time when Buffett compared investing in stocks to playing with fire, and we could be approaching such a moment right now. Should you go against Buffett's advice in this particular situation and keep buying stocks? Let's find out.

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Source Fool.com