Warren Buffett Thinks Investors Are "Gambling" Right Now. Here's What Happened the Last Time He Uttered Those Words.
There's a reason Buffett's nickname is "the Oracle of Omaha."
Overview
"It's tough to find values when everybody is preferring gambling."
That was Warren Buffett's blunt message in an interview with CNBC's Becky Quick in mid-July. Those words echoed his statements in another CNBC interview during Berkshire Hathaway's (NYSE: BRKA) (NYSE: BRKB) annual shareholder meeting in May. The legendary investor said then that the stock market had become like "a church with a casino attached," adding that "we've never had people in a more gambling mood than now."
Details
But Buffett has also used the gambling metaphor before. And what happened with stocks the last time he spoke about how investors were gambling could be a warning sign for today.
Source
Originally published at www.fool.com.