Buffett Says Markets Look More Like Gambling Than Investing

Warren Buffett said the current investing backdrop is not ideal for Berkshire Hathaway, pointing to high market prices and limited opportunities to deploy the company’s large cash position. He made the remarks during Berkshire’s annual shareholders meeting in Omaha, Nebraska, where new CEO Greg Abel also answered questions about the company’s strategy. Buffett said speculation in shortterm options and prediction markets has made parts of the market feel more like gambling than investing. He argued that buying or selling oneday options is not traditional investing and said the appetite for that kind of activity is unusually strong. The meeting also featured updates on Berkshire’s businesses and portfolio. Abel said Berkshire does not plan to break up or divest its subsidiaries, discussed artificial intelligence use across the company, and highlighted the firm’s large holdings and record cash balance as central to its longterm flexibility.