Warren Buffett, 91 years old, Says Markets Have Become a ‘Gambling Parlor’

Berkshire ended the year with a near record amount of cash on hand. (After Berkshire’s buying spree, the size of the company’s war chest shrank to $106.26 billion at the end of the first quarter, from $146.72 billion three months earlier.)

Berkshire doesn’t try to make its investments based on what it believes the stock market will do when it opens each Monday, Mr. Buffett said.

“I can’t predict what [a] stock will do…We don’t know what the economy will do,” he said.

WSJ 30 April 2022

https://www.wsj.com/articles/warren-buffett-says-markets-have-become-a-gambling-parlor-11651340230

Buffett says market ‘almost totally a casino’ as it rallied in recent years

Berkshire Hathaway head tells shareholders that Wall Street encouraged traders to treat shares like poker chips

The billionaire and chief executive of Berkshire Hathaway, speaking in Omaha to thousands of shareholders gathered for the company’s annual meeting, added that “extraordinary” activity had been “encouraged by Wall Street because the money is in turning over stocks”.

FT 30 April 2022

https://www.ft.com/content/418b5af6-ce43-419e-845a-d63f303638f0

Warren Buffet 2020 You Do not default with You own currency /MMT EMU/

https://englundmacro.blogspot.com/2021/04/warren-buffet-2020-you-do-not-default.html