Warren Buffett, chairman of Berkshire Hathaway, told CNBC’s Becky Quick that finding value in today’s stock market is “tough” because “everybody is preferring gambling.” He emphasized that meaningful investment opportunities have become scarce and require patience and discipline, noting that opportunities sometimes appear so quickly they are “unbelievable,” while at other times investors must be “very, very lucky” to find a worthwhile investment over a few years. Buffett added that more money is being directed toward cultivating gamblers than investors.
Buffett also referenced the market’s recent performance, stating that the stock market has reached all‑time highs this year despite challenges such as an energy shock stemming from the ongoing war with Iran. He pointed to heightened speculation in artificial‑intelligence‑related stocks, with one‑day options trading and leveraged exchange‑traded funds contributing to market activity. The article noted that MU fell 7.65% while SPCX rose 0.28% at the time of reporting. Retail traders, according to Buffett, have been buying shares of memory‑chip maker Micron Technology and the recent SpaceX initial public offering.
The remarks echo Buffett’s earlier comparison of the market to “a church with a casino attached,” made in May, and underline his view that the current environment favors short‑term gambling over long‑term value investing.