Warren Buffett warned that investors have never been in a more gambling mood than now, an 11-word assessment delivered during a CNBC interview at Berkshire Hathaway's annual meeting. The legendary investor compared the stock market to a church with a casino bolted to its side, highlighting a shift toward short-term speculation amid all-time-high stock prices. His preferred valuation gauge, the Buffett indicator, has climbed above 233%, surpassing the 200% threshold he once called playing with fire. Berkshire ended the first quarter of 2026 with a record $397.4 billion in cash and Treasury bills, a signal analysts view as a valuation call. The warning comes as bullish sentiment among individual investors plunged to 31.4% and CNN's Fear and Greed Index remained in fear territory.
Berkshire Hathaway IncBerkshire's record cash pile is highlighted as a valuation signal, but the article does not state whether this is positive or negative for the stock; it's a neutral observation.