US equities are at all time highs, but this is largely driven by bluechip tech stocks ( AAPL , MSFT , GOOG etc...), which indicates investors are still cautious going for the safe bets or passive index investing. Further improvement in sentiment should support value shares.
Berkshire shares is probably the best single way to play it. The stock broke out after range trading over teh past 2 years. Relative strength vs the SPX shows sign of bottoming. A move back below 210 invalidates the bull case.