{"id":5369,"date":"2026-05-02T22:35:18","date_gmt":"2026-05-02T22:35:18","guid":{"rendered":"https:\/\/stock999.top\/?p=5369"},"modified":"2026-05-02T22:35:18","modified_gmt":"2026-05-02T22:35:18","slug":"warren-buffett-says-weve-never-had-people-in-a-more-gambling-mood-than-now","status":"publish","type":"post","link":"https:\/\/stock999.top\/?p=5369","title":{"rendered":"Warren Buffett says ‘we’ve never had people in a more gambling mood than now’"},"content":{"rendered":"

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Investing legend Warren Buffett bemoaned the gambling culture that has taken over financial markets while continuing to preach his brand of patience.<\/p>\n

In an interview with CNBC on Saturday as Berkshire Hathaway held its annual shareholders meeting, he noted that of the 60 years he\u2019s been in business, only five of them were \u201creally juicy\u201d with opportunities. But when there are no good bargains to be found, the \u201coracle of Omaha\u201d is fine doing nothing.<\/p>\n

That\u2019s largely been the case for years. While Berkshire has acquired some smaller companies, the lack of mega-deals has sent the conglomerate\u2019s cash pile to nearly $400 billion. <\/p>\n

Buffett stepped down as CEO at the end of last year, but he remains involved in the investment portfolio\u2014and still doesn\u2019t like the prices that he\u2019s seeing.<\/p>\n

That\u2019s due in part to investors acting like they\u2019re playing a card game. To be sure, he\u2019s long compared financial markets to a church with a casino attached. But the casino has gotten very attractive, he told CNBC.<\/p>\n

Buffett pointed to the growing popularity of one-day options, saying, \u201cThat\u2019s not investing. It\u2019s not speculating. It\u2019s gambling, just totally.\u201d<\/p>\n

He also cited the example of a U.S. Army soldier who made $400,000 on a prediction market, knowing in advance about the military\u2019s raid to capture Venezuelan dictator Nicolas Maduro. Earlier this month, Justice Department charged him with insider trading. <\/p>\n

Meanwhile, college and professional athletes have also been caught trying to manipulate prediction markets as online sports betting has exploded.<\/p>\n

\u201cAnd the quantity of those things is just incredible,\u201d Buffett said. \u201cSo we\u2019ve never had people in a more gambling mood than now. But that doesn\u2019t mean that investing is terrible. It does mean that prices for an awful lot of things will look very silly.\u201d <\/p>\n

He has famously said the best time to buy is during steep downturns, urging investors to \u201cbe fearful when others are greedy, and greedy when others are fearful.\u201d<\/p>\n

Buffett, who is still Berkshire\u2019s chairman, reiterated that advice Saturday and said the most likely time to buy is when nobody will answer their phones because the markets are collapsing. <\/p>\n

Treasury Secretary Scott Bessent\u00a0also pushed back recently against the get-rich-quick mindset many Americans have, warning it often leads to more financial instability. <\/p>\n

The billionaire former hedge fund manager has even made financial literacy a priority since joining President Donald Trump\u2019s administration, driven by a childhood marred by poverty.<\/p>\n

\u201cThere are a lot of young people, mostly young men, going to blue-collar construction jobs, playing the lottery. It drives me crazy,\u201d Bessent said in an interview with the Associated Press. <\/p>\n

\u201dThe best thing you can do is not play the lottery,\u201d he said \u2014 rather, people should invest and \u201cthen watch it grow.\u201d<\/p>\n

#Warren #Buffett #weve #people #gambling #mood<\/p>\n","protected":false},"excerpt":{"rendered":"

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