Buffett says markets are increasingly driven by speculation

Warren Buffett said the current stock market makes it difficult to find attractive values because many investors are focusing on speculation rather than longterm investing. In an interview with CNBC's Becky Quick, the Berkshire Hathaway chair said there are periods when opportunities are abundant, but other times when worthwhile ideas are scarce and patience matters more. Buffett has criticized speculative trading before, including his earlier description of the market as “a church with a casino attached.” CNBC noted that the backdrop includes recordhigh stocks, heavier retail trading, and concern about speculation in areas such as AIrelated shares and leveraged products.