“If you buy or sell options on a day, that's not investing. It's not even speculating — it's gambling,” said the legendary investor.
“I have never seen people in a more intense gambling mood than today,” he added, explaining that the market is moving far away from the principles of traditional investments, notes Naftemporiki
“Churches and Casinos”
In a statement to CNBC on the sidelines of Berkshire Hathaway's annual meeting, Buffett used a characteristic metaphor: “The market is like a church with a casino next to it.” You can enter either the first or the second. “Investors can oscillate between 'rational' investing and gambling. It's true, the latter are becoming more and more attractive,” says Buffett.
Patience instead of haste
Buffett reiterated his investment philosophy: Great opportunities come when others are pulling back.
As he put it, the right time to invest will be when “no one answers the phone” – a clear reference to periods of panic and market decline.
Beyond markets, Buffett also referred to a broader principle: the “golden rule” of behavior.
“Treat others as you would like to be treated,” he said, emphasizing that this is a timeless value that applies from entrepreneurship to everyday life.
At a time when markets seem to be driven by momentum and emotion, Buffett's message is clear: discipline and patience remain the rarest and most valuable assets.
