Warren Buffett says ‘humans love to gamble’ as he takes digs at a speculative market — so why do investors ignore him?
Warren Buffett has made billions picking stocks over the course of his life
But these days, he says, the market is changing. Instead of investors focusing on long-term returns, speculative trading is becoming predominant. Despite the major indices hitting record highs, Buffett, in an (1)interview with CNBC (1), aimed criticism at retail investors who chase the hot stock of the moment and one-day options trading, likening it to gambling.
Must Read “There are times when opportunities are just thrown at you so fast you can’t, you know, it’s unbelievable,” Buffett said. “And then there’s other times when you’re very, very lucky if you find one thing in a couple of years. And it should always be that the, the latter is what prevails. But since humans love to gamble so much, there’s more money in, in actually cultivating gamblers than there are cultivating investors.” Quick turns versus long looks Buffett has long been an advocate of the buy and hold philosophy when it comes to stocks.