Wall Street’s record-setting rally is due for a reality check, according to the latest report from Stifel’s Barry Bannister and Thomas Carroll.

Wall Street is coming off a week that saw the Nasdaq Composite notch two consecutive records at its end. The S&P 500, meanwhile, just missed a record close on Friday. Tech stocks

Warren Buffett is telling investors something -- not through what he has said, but through his actions with the balance sheet of his investment conglomerate Berkshire Hathaway ( BRK.A -0.40%) ( BRK.B 0.83%). These actions should be taken as a warning sign with the stock market reaching elevated valuation levels in recent months.