“The VIX is at a 1-year low and when the fear gauge is going down and complacency starting to reign, Warren Buffett says 'be greedy when others are fearful and be fearful when others are greedy,I don’t know if that means we’re at a cusp of a major selloff, but certainly the risk-reward situation has deteriorated markedly just on that indicator alone.” David Dietze, president and chief investment strategist at Point View Financial Services told CNBC.