Warren Buffett: Stock Market Increasingly Driven by Speculation, Not Long-Term Investing

According to CNBC, Warren Buffett criticized the stock market, saying it is increasingly driven by speculative trading rather than long-term investing. The Berkshire Hathaway chairman told CNBC's Becky Quick, "It's tough to find values when everybody is preferring gambling." Buffett, 95, earlier this year likened the stock market to "a church with a casino attached," specifically calling out the surge in one-day options trading as gambling. He said the most meaningful investment opportunities are fewer and require a patient, disciplined approach, noting that while opportunities sometimes come rapidly, there are periods when finding even one good investment in a couple of years is very lucky. Buffett added that because humans love to gamble, there is more money in cultivating gamblers than investors.