Buffett: Stock Market Becoming a Casino as Apps Encourage Risky Trades Over Long-Term Bets
-
Warren Buffett says the stock market has become increasingly "casino-like", with more speculative and risky behavior from investors.
-
He blames the democratization and gamification of trading for this, with easy-to-use trading apps tempting people to trade more often.
-
Too many investors are chasing trends and quick profits rather than analyzing businesses and investing for the long-term.
-
Buffett warns that panics can now happen more rapidly due to speed of communication and connectivity.
-
His advice is to remember that Wall Street profits from increased trading activity, not from investors making money. The "House always wins".