The renowned investor Warren Buffett believes that U.S. residents are currently more involved in gambling than ever before. He expressed this view in an interview with CNBC.
During the discussion, Buffett compared the modern financial market to a “church with a casino attached,” noting that it’s the “casino” that is now attracting more and more attention.
As an example of the increased gambling mood, the investor mentioned the case of a U.S. Army soldier who allegedly used classified information regarding a military operation to capture Venezuelan President Nicolas Maduro to earn about $400,000 in predictive bets.
Buffett added that short-term options trades should not be considered investments or speculations. In his opinion, this is essentially gambling.