Warren Buffett Thinks Investors Are "Gambling" and "Playing With Fire" Right Now. But Here Are 3 Safe Stocks Even the Oracle of Omaha Would Like.
While investors treat Wall Street like a casino, stick to these Buffett-style "wonderful investments."
Overview
Warren Buffett may have retired as CEO of Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB), but the legendary investor is still quite active. While serving as chairman of the Omaha-based holding company, Buffett continues to periodically give interviews to the financial media.
A prime example is back in May, when the Oracle of Omaha lamented the rise of "gambling culture" within the stock market, stating, "We've never had people in a more gambling mood than now." This isn't the first time Buffett has compared short-term speculation to gambling, but these remarks, along with others made in this interview, could provide insight into where markets are headed from here.
Details
In the same interview, Buffett noted that, in such a gambling fever environment, "prices for an awful lot of things will look very silly." While not certain, the current "fast-money culture" could give way to a financial market correction.
Source
Originally published at www.fool.com.