Buffett parle de la frénésie spéculative à Wall Street : le marché actuel ressemble à une église attenante à un casino, ou pourrait entraîner une longue période de prix d'actifs élevés.

Mars Finance reports that, according to Gelonghui, Warren Buffett responded during an exclusive interview with CNBC regarding “Berkshire Hathaway currently holding approximately 380 billion USD in cash, and the market’s high attention to why it has not yet engaged in large-scale mergers or investments”: “Prices are too high, and there are too few targets.” Buffett stated: “As for deploying cash at Berkshire Hathaway, now is not our ideal environment.” He emphasized that the company has the right management team to select opportunities carefully: “Sometimes we do nothing, but sometimes we are very active.” When discussing the current macro stock market environment, Buffett used the metaphor of a “church with a casino” to describe Wall Street’s speculative atmosphere. People can shuttle between the church and the casino; there are still more people in the church than in the casino, but the casino has become very attractive to people. He pointed out, “If you buy and sell options, that is not investing, nor is it speculation; it is outright gambling.” Combining recent cases where American soldiers used confidential information from Venezuelan military operations to profit $400,000 in the market, he said: “Unless you can know when we will invade Venezuela like that person, no one can explain why they buy one-day options; the number of such cases is astonishing.” We have never encountered a crowd with more gambling tendencies than now. Buffett added that the surge in gambling enthusiasm does not necessarily mean the market will collapse, but it will lead to long-term high prices for a large amount of assets.