In an interview with CNBC, broadcast live to thousands of participants, Buffett shared his thoughts on the current economic climate and technological challenges.
The president of Berkshire Hathaway, who has been a symbol of patient and long-term investing for years, expressed concern about the growing popularity of short-term speculation. In his opinion, the market is more and more like a “church with a casino attached.” Buffett noticed that many investors get emotional and make decisions that resemble gambling, instead of using fundamental analysis.
“Gambling mood” in the markets
Warren Buffett emphasized that the current market situation is not conducive to traditional investing. “If you buy day options or sell them, that's not investing, that's not speculation, that's gambling,” said the CEO of Berkshire Hathaway, criticizing the boom in short-term trading and excessive use of leverage. He also added that he had never noticed such a strong “gambling mood” among investors.
Buffett did not spare criticism towards financial institutions that, in his opinion, fail in times of crisis. “Try calling them when the market is crashing,” he commented, noting that clients are often left without support in such situations. He compared the situation to “going to a slaughterhouse” and suggested that many investors were losing confidence in the market.
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Technological and nuclear threats
The legendary investor also addressed global threats, including nuclear weapons and deepfakes. He said that although it is worth being aware of these dangers, there is no point in worrying too much about them. “Something can fall from the sky at any moment,” he said, referring to the unpredictability of the modern world.
Warren Buffett has expressed particular concern about the growing number of deepfakes, which he described as a “scary” trend. In the era of advanced technologies and global tensions related to nuclear weapons, such phenomena can have serious consequences. Nevertheless, the investor tried to end the conversation on a positive note, emphasizing the uniqueness of America as a place to live and invest.
Patience and a long-term approach
Buffett, known for avoiding investments outside his “circle of competence”, admitted that in recent years he had difficulty finding attractive opportunities in the market. The valuation of Berkshire Hathaway shares fell by 8%. over the last five years, while the main S&P 500 index increased by 27%. Despite this, the company has accumulated a record cash reserve of $380 billion, which Buffett explains as preparation for “the right moments to act.”
The investor emphasized his patience, noting that during his entire career, only five years were truly exceptionally favorable for investments. “It's all a matter of time and the right people,” he added, pointing to Berkshire Hathaway's long-term approach.
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Lessons from a business legend
During the interview, Buffett not only shared his observations about the market, but also joked, which relaxed the atmosphere in the room. When asked about the new managers of Berkshire's companies, he replied humorously: “I haven't even met the old ones.” The audience burst into laughter, and Buffett emphasized that in life it is worth following the “golden rule”: treat others the way we would like to be treated.
He ended the conversation by expressing confidence in the future and emphasizing the importance of kindness and helping others. As one of the meeting participants noted, Buffett increasingly talks about values that go beyond the world of finance.
