Adrián Zambrano retweetledi
WARREN BUFFETT JUST GAVE HIS SHARPEST MARKET WARNING IN YEARS AT THE BERKSHIRE HATHAWAY SHAREHOLDER MEETING
His exact words on today's market:
"The market always feels like a church with a casino attached. People can move between the church and the casino. There are more people in the church and more people in the casino, but the casino has gotten very attractive to people."
"If you're buying one-day options or selling them, that is not speculating. That is gambling. Totally. There's nobody that can explain why they're buying an option for one day."
"We've never had people in a more gambling mood than now."
"That doesn't mean the thing is terrible, but it does mean that the prices for an awful lot of things will look very silly."
The 95-year-old "Oracle of Omaha" is speaking today as Berkshire sits on roughly $380 billion in cash, the largest cash position in the company's history. Greg Abel is running the meeting as CEO for the first time.
When asked what would create a juicy investment opportunity for him, Buffett's answer:
"It's a phone call in some cases."
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