Warren Buffett used the 2026 Berkshire Hathaway shareholder meeting to warn investors about rising speculation across markets.
Summary
- Buffett said investors are showing a stronger gambling mood across volatile markets and short-term trades.
- He criticized one-day options, calling them gambling rather than investing based on business value.
- Greg Abel led Berkshire’s meeting as Buffett’s warning renewed debate over speculation and crypto.
His remarks targeted short-term trading, risky bets, and the wider appetite for volatile assets, including crypto.
Buffett said market behavior has moved closer to gambling as more retail traders chase fast returns. He described the current mood as unusually aggressive compared with earlier cycles.
He said, “We’ve never had people in a more gambling mood than now.” His comment came as investors continue to trade crypto, meme stocks, and short-term options with high risk.
Buffett also compared markets to a place split between long-term investing and betting. He said, “The market always feels like a church with a casino attached.”
That line reflected his view that investors can choose between disciplined ownership and short-term wagers. He added that the casino side has become more attractive to many people.
One-day options draw sharp criticism
Buffett focused much of his warning on short-term options trading. He said one-day options carry little link to business value or long-term investing.
He stated, “If you’re buying one-day options or selling them, that is not speculating. That is gambling.” He added that buyers cannot clearly explain why they expect a one-day trade to work.
His comments follow years of growth in fast retail trading. Many traders now use mobile apps, online forums, and social media to react quickly to market moves.
Buffett did not say the entire market was broken. However, he warned that heavy speculation can push prices to levels that later appear unreasonable.
Crypto criticism fits Buffett’s old view
Buffett’s comments also matched his long-held criticism of Bitcoin and other digital assets. He has often argued that crypto does not produce cash flow like a business, farm, or rental property.
His latest remarks did not focus only on Bitcoin. Still, the warning applies to markets where traders buy mainly because they expect someone else to pay more later.
Crypto markets have often attracted both long-term holders and short-term speculators. Buffett’s view places digital assets closer to the speculative side of that divide.
For Bitcoin supporters, the argument remains different. They often describe Bitcoin as a scarce asset and a store of value. Buffett has not accepted that case.
Greg Abel leads Berkshire meeting
The 2026 meeting also marked a leadership change at Berkshire Hathaway. Greg Abel led the event as CEO after taking over from Buffett at the start of the year.
Abel discussed Berkshire’s major businesses, including rail and insurance. He also addressed artificial intelligence and said the company would not use AI just to follow a trend.
He said, “We’re not going to do AI for the sake of AI.” The comment showed Berkshire’s careful approach to new technology.
The meeting also included a tribute to Buffett. Abel honored him with a jersey display at the CHI Health Center, while a deepfake version of Buffett appeared during one question segment.
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