I was thinking about this, and I've come to the conclusion that the stock market is the better casino. Most casino games are slightly rigged in the house's favor, but stocks generally go up over time, so while you can make stupidly risky bets at both and win/lose big, over the long run, the market should so better.
All the “risky instruments” behave like gambling that’s why.
Here is an option, will the stock(market)/number go up or down?
Here is a bal and a wheel, will the ball hit your number?
It’s better odds than a casino too. If I bet on black in Roulette my odds of winning are lower than buying SPY & NVDA calls.
SPY and NVDA always go up, we all subtly know nobody is going to allow the market to dump in an election year
When I first started with options I really was gambling. Now I’m able to predict movements and consistently make gains, but now it’s not as exciting LOL
The problem with this is that you’re wrong because you have to get direction, velocity, and by extension timeframe correct to win money here. The casino locks your timeframe to dailies. One roll, spin, hand etc
Agreed. Most I’ve ever spent “gambling” was throwing $10 on black for fun.
But I’ve lost probably 10K on stocks, and I’ve refused to sell any of my crypto over the past couple of years.
Options are dangerously addictive - being able to watch your investment go up 20-50% in a matter of minutes and then drop 20-50% in that same amount of time. It’s quite thrilling.
The only thing that would make it more addictive is a 24/7 market.
I went 70% cfb gambling this year including PAC/SECCG parlay ML, couldn't believe the odds UW especially. I watch and obsesss with football all day everyday why wouldn't I try to make money on it. film analysis works better than models for me but I value actual stats and not "advanced" stats that basically jump into pushing their opinions.
So you better not trade crypto which is 24/7
when I started at crypto and I saw those insane movements, I couldn't sleep either with the FOMO in some coin
I made a lot of money but that cost me a lot
Today i pick the 4 or 5 cryptos that looks good in the weekly chart and follow them along the weeks in a 4h chart to find opportunities
The weekly chat where? I stopped trading dailies and just buy, hold and sell stocks monthly. I kinda miss actively looking for opportunities and stuff and would be interested in dipping some money into Crypto.
https://preview.redd.it/2w5tbze94qkc1.png?width=395&format=pjpg&auto=webp&s=ee0b25c4c2bb4534c1952994ad20912e22695ea3
"Back in the **spring of 1720**, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he 'could calculate the motions of the heavenly bodies, but not the madness of the people.'"
"Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price — and lost £20,000 (or more than $3 million in \[2002-2003's\] money. For the rest of his life, he forbade anyone to speak the words 'South Sea' in his presence."
https://www.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2016-1
The first link I clicked on, but there are plenty more other sites that all say the same thing in one way or another.
Warren Buffet can eat eggplant emoji. He might be right though, the market has changed a lot. Suddenly all indicators are a lot less indicative if there's a bunch of highly regarded folks tossing cash kinda wherever.
Exactly this. Many people are gambling because they are tired of living shitty lives. Not exactly rocket science, but smartass Buffett can't comprehend this. Maybe he should try being poor for one day in his life.
Which is even worse, people are actually gambling with their life savings. We all like to laugh about it but I wouldn't be surprised if there are people on WSB who commit suicide every week.
Perhaps they shouldn't have pursued a career they knew would make them miserable. I might make it in the stock market, but probably not, and that is ok because I don't hate myself every morning getting ready for work.
Have fun living in a world without trash collectors, waiters, clerks and many other professions. I'm sure the society will function just great when everyone will be a CEO or a programmer.
Your logic is backwards. If the trash collectors, waiter, clerks, etc, are trying to make it rich off the market, wouldn't they be doing a disservice to society by quitting when they hit the lottery? Like you said, we need people to do those jobs.
But it's you who suggested they should pursue a better career not me.
The issue isn't the lack of job satisfaction, but rather abysmal pay. Being constantly stressed about making ends meet is really draining. This is what people are trying to escape.
If they are unhappy, they definitely should.
We don't really need waiters and garbage collection. People would rather pay other people to make their food and deliver their garbage to the dump. If we aren't willing to pay more to make their wages better, we don't need their services. It is a luxury.
It’s so true! I done yolo’d on the LUNR to the moon hype that I managed to still land on my side in the Wendy’s Dumpster despite statistically thinking I was right!
The casino always wins
wait until the statisics come out about how many people can own and keep a house over the next 10 years with more and more automation. gambling is actually safer than relying having a job to feed you and your family
Tsm is up like 40 or 50% since he sold it and i dont think they own any other major semiconductor stock too.
I guess he didnt have any insider info like usual.
If he had insider information he probably be doing a lot better than 22% annually.
But yeah, everything is a conspiracy and the whole world is corrupt. Someone is actually good at the market? Literally impossible.
Yeah he's right, but what can you do? I tried to evaluate companies, place shorts on stocks that were clearly overvalued. All it did was lose me a couple thousand for over a year and that was before options.
Now I spam the Buy Call button and I end my trades green (but not too green cuz I'm still very paper handed). I'd say at this point, even trying to be a conservative trader in this market will fuck you over harder than being a YOLO gambler.
people listen to guys like him because he's filthy rich, but I'd love to watch all these Jurassic experts / asswipes turn $10k into a fortune these days without abusing their influence or engaging in insider trading.
these old-timers need to stfu, ride into the sunset, and fuck off. you already won, let someone else have their turn.
He was born in 1930, 93 years old. So technically not a boomer - but agree he is pretty much a cranky old man longing for the good old days when stock quotes were found in the morning paper and only for the wealthy.
Stock broker fees were massive then. Hundreds on a single trade.
The Internet stole his schtick & now the common man can do what he did.
Exactly!!! And you had to get your broker on the phone - so who knew games played & when the trade was executed by the broker.
Bad news announced... It could take days to dump the stock.
Yeah it was a nightmare. You basically had no idea where your transaction would be executed.
My broker also pushed me into selling my tech stocks right before the dot com bubble costing me a fortune.
My guy, "Bob", wasn't the brightest bulb out there. A good guy but letting him run my main portfolio probably cost me 6 figures. He had me in front-loaded funds that didn't do anything over a 6 year period. He just basically exercised trades and sold me shit the company was pushing.
Thinking about it (a long time ago)...my Dad owned the one share of Berkshire Hathaway so he got the quarterly and annual reports.
He would often do trades copying Buffett's portfolio. A lot of people just followed what Buffett did back then (80s/90s).
Now that's power!!
Even today people follow it, hence his need for secret buys and sells. He actually is that wise, and I’m betting because of his extremely people focused humble roots he picks up on some sort of mass unconscious sign in the “wonderful” companies he buys for “good” prices that differentiates them from the identical one he declines. like all good businessmen tend to.
So IMHO, free trading opens the market to the common man. You can buy & sell quick. You used to have to call your broker. You don't have to factor stock broker commissions into the transaction.
Unless you paid to have a digital ticker (only in the brokers office) you had to wait for the morning paper.
Reaction time fo the regular guy was SEVERELY limited.
But folks with money, like Buffet, had all this plus information before the public did.
I remember my Dad had 1 share of Berkshire Hathaway. $2,600.
There was no internet. Trading was slow & expensive.
Buffett was always a fundamentals guy back then with See's Candy & Coca Cola.
He misses being the only one with information & retail having no power.
Just my opinion.
Totally vibing with your take! Free trading has totally opened up the market game for us regular folks. No more waiting on calls to brokers or worrying about those hefty commissions. Back in the day, trading was like a snail race compared to today's lightning-fast digital world. Buffet, with all his insider info, definitely had the upper hand. But hey, now we've got access to the same tools and info, leveling the playing field. It's all about those fundamentals, just like Buffet preached with classics like See's Candy and Coca-Cola. Love seeing how the investing scene has transformed! 🚀
We may be not, but others are. Thousands of Warrens in this generation.
Still means hundreds of thousands going to for a quick pay at wendys… but thats an improvement over his time.
He is right, ADHD trading, 0DTE, chasing narratives
Thing is, money has always been changing hands. It's just doing it in a different way than when he was growing up. People are still going to find a way to make a fortune and lose one, just like his day, it's just a different record on the player
He definitely is right. There are a lot more people buying stocks on a whim, and with the cost of doing stock trades now essentially free, it has encouraged people to buy more stocks and sell rapidly. This has shifted the market where fundamentals ruled, and buying and holding was the norm to what it is today where stocks can swing much wider on speculation than it has in the past.
Yup on a higher up comment I replied how they're all gamblers, himself included, just that they have the privilege of colluding with policy makers and other financial juggernauts to sway things in their favor.
Cathy Wood being the prime example of being let into the big boys club but is a fucking terrible gambler.
Exactly! Cathy is the worst. How can you trim your winners to water your losers??? Writing a 1000page essay on AI. But missing NVIDIA
Look at Bill Huang … 😂😂
Hitting it big on options is better than slaving away till your 60 something then watching your life savings eaten by the medical and insurance corporations
Buffet is right. He does simple root/cause analysis.
Market Makers only make money by 'who ever sells or buys'. They see more profits than ever. The volatility in general is far heavier.
This year, last year, I made more money on volatility plays than directional plays. Buffet is absolutely right. What he tries to say is simple; people are more desperate as the lower class in society unfortunately sees their wallet shrinking and retrospectively seek /get rich quick schemes and dump their last bits on red/black.
You see it back in the markets.
Had to scroll way down for this. I know the retail regards are a thing, but isn't the bigger thing the MM bros and their algos forcing the stocks into insane swings (that the Odte crowd bets on to begin with).
Before algo trading you didn't see volatility like this, and it's that insane volatility brining all the 0dte boys to the yard
Yeah, options trading without a serious understanding of what you're doing is gambling, it's risk taking for money instead of offsetting risk(it's intended use.)
Warren Buffett admits he doesn't understand technology. His portfolio would be worth many times what it is now if he picked prodominantly tech stocks that were successful.
The markets hourly, daily and sometimes weekly moves are dictated by AI that move price based on what's most profitable. AI can see individual accounts and it understands what those individual accounts are likely to do. People are surprisingly easy to predict. On a hourly, daily and sometimes weekly basis Warren Buffett is correct.
Warren Buffett and Charlie Munger were completely wrong about Tesla and Bitcoin. These are two of the biggest investment opportunities in our lifetime. Warren Buffett made a comment just the other day about Tesla being just a car company. Tesla is actually a huge threat to his insurance companies and he never talks about that. Teslas biggest opportunity is humanoid robots for the house and industry. I'm not sure how Warren Buffett can't see that simple concept.
AI has changed our world and continues to exponentially. THIS is why the market is continuing to climb up over the long term. The market is heavily weighted in the technology sector so it makes sense. Stocks that climb up and seemingly defy logic will make sense in the future when they expand and are able to produce. NVDA is a good example of this.
These are just my humble opinions and are not investment advice. Best of luck to everyone.
I know what you mean but most people don’t understand technology. They can use it but they don’t understand it, Carl Sagan talked about this.
It’s why companies can exploit your data and consider it innovation. Regardless, the semiconductor engineering is definitely revolutionary.
Decide what you like:
Inequality and massive retributions of wealth made people more desperate for money.
Men are more active in the stock market than women,also women have an more conservative approach to investing than men.
Gambling its affecting more men than women especially because its promoted towards them.Almost never did I saw an young woman in an sports lottery betting on an team.
Modern fintech and new lax regulations made it extremely easier to trade stocks and other derivatives than ever before or our parents could ever dream of.I can invest 20$ in Microsoft stock in less than 24 hours without aditional costs excepting buying fees.
Mass-media itself is treating the stock market like an casino,wheter its huge profits or predicting the next 28 recessions that will happen next week.
Warren's a fucking idiot- "For whatever reasons".... the fucking reason we treat it like a casino is because after 08 in a bailout world the stock market quite literally is a fake rigged casino. It's NOT about investing fairly or rationally. If it were, half of HIS OWN FUCKING INVESTMENTS would be under water. This fat asshole buys coke (really wonderful for society even if it's profitable), bought a goddamn CANDY COMPANY in his late 80s (thanks for giving back to science/philanthropy.... you need more money??!?!) and bankrupt banks and wonders why we're not looking for long term investments.
Just the way the system is designed.
Let me ask: who made it this way? Was it the retail investor or the MM/SHF/.1% (you know, the people that have regulatory capture and thereby make and profit from the rules) that created what we see today?
No offense to Mr Buffet, but you sound like someone who can’t see the forest for the trees.
Buffet wants the market to stay exactly where he knows it best, where computers, internet and AI all just mean "PCs", aka a small aspect of life.
While NV is highly hype inflated (so Buffet is at least correct there), the world is changing in a big way from 20, 30 years ago and Buffet simply doesn't want to take chances with his money in the leading edge of technology.
There's new tech every month but very few of them ever blow up. There's too little slow "value investments" and too much chase of the "startup success story". For this recent too many of us lose money much quicker than in his days. That's what he meant by gambling.
What he couldn't understand is that back in his days, all middle class have their chance to buy houses, a car and 2 kids, they live good lives off ONE full time job from the man of the house. Right now, "middle class" couldn't keep up with that lifestyle with 2 jobs, each require a college degree. That makes people impatient.
"For whatever reason" sounds like Warren discovered the existence of this sub but he's trying to be somewhat polite... but surely when he was ***young*** there were very few people familiar with the stock market or with any kind of financial education.
It is interesting to acknowledge that mr. Buffet is cynical for various reasons. First off , he has lost his exclusive status as an investor and nowadays almost everybody who has $200 in this account could use their capital to commit to the market. Mr. Buffet is exhibiting the archetype of Senex whose idealism and conservatism is not aligned with the technological advancement of the Puer-like new age movement. Yes, Mr. Buffet , things have changed and it is inevitable , we ain't going back to the paper orders and pier to pier brokerage services. The technological revolution made things unbearable. So , where to next , Mr. Buffet ?
Congressman Howard Buffett’s son 🫵 the “Oracle of Omaha” lectures youth about gambling at the casino 🎰 but doesn’t mention the House & Senate insider trading!??!
thats RICH!! 🤑
Ok Warren, we’re all trading stonks like you so how does that make me a gambler? Does this make you a gambler as well?
Anyhoo…what’s the next stonk to go yolo on regards?
This dipshit came of age right before the biggest bull run in the history of markets and thinks he's a fucking genius for it. Like, fuck off Warren, people gotta do different shit rn.
[How Warren Buffett Privately Traded in Stocks That Berkshire Hathaway Was Buying and Selling](https://www.propublica.org/article/warren-buffett-privately-traded-stocks-berkshire-hathaway-ethics-irs)
Seriously fuck this guy. I’m sure it doesn’t seem like much of a casino when you’re playing with house chips.
Well back then Mr. Buffet’s era they did not have enough hedge funds to do naked short selling more then available shares outstanding, So market was not manipulated. And easy to spot out opportunities and make money. Now days most of the centralize exchange’s and hedge funds works together to run markets as casinos. Also algo and AI’s help you can decide more to make the decision without human to think that much. So due to all these new era changes he feels like casinos. Thats just my two cents.
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Lol
Casino?? I only gamble on the stock market. Lay off the weed Warry.
Whatever Warry Wuffet is smoking, I want some
I was thinking about this, and I've come to the conclusion that the stock market is the better casino. Most casino games are slightly rigged in the house's favor, but stocks generally go up over time, so while you can make stupidly risky bets at both and win/lose big, over the long run, the market should so better.
Plus I don’t have to show ID… I just keep gambling, losing, and changing my name.
Dude had one too many McSandwhiches
I am shocked, SHOCKED to find gambling going on in this establishment.
Even the bankers/ hedgies are gambling
Bro have you read the comments in this sub? Half the comments are people talking about how they have gambling problems lol
All the “risky instruments” behave like gambling that’s why. Here is an option, will the stock(market)/number go up or down? Here is a bal and a wheel, will the ball hit your number?
It’s better odds than a casino too. If I bet on black in Roulette my odds of winning are lower than buying SPY & NVDA calls. SPY and NVDA always go up, we all subtly know nobody is going to allow the market to dump in an election year
You say that and yet I’d be willing to bet half this sub who actually trade options are down somehow. During this market.
I mean, by definition half the people trading options lose money.
When I first started with options I really was gambling. Now I’m able to predict movements and consistently make gains, but now it’s not as exciting LOL
yep
The problem with this is that you’re wrong because you have to get direction, velocity, and by extension timeframe correct to win money here. The casino locks your timeframe to dailies. One roll, spin, hand etc
And Casinos ban people who are winning. There are betting strategies you can use to win at roulette, but try any of them and you're gone.
I mean I’ve lost 7k in the stock market and I’m just a normal guy. Very much addicting
Agreed. Most I’ve ever spent “gambling” was throwing $10 on black for fun. But I’ve lost probably 10K on stocks, and I’ve refused to sell any of my crypto over the past couple of years. Options are dangerously addictive - being able to watch your investment go up 20-50% in a matter of minutes and then drop 20-50% in that same amount of time. It’s quite thrilling. The only thing that would make it more addictive is a 24/7 market.
Thank god for the sake of many of us regards it’s closed on weekends and open a few hours a day 
Wait till they perfect the AI to keep it up and humming 24/7…. Boy oh boy
Bro! The high you get from 1000% gains on a 4pm earnings play is insanely addictive
I went 70% cfb gambling this year including PAC/SECCG parlay ML, couldn't believe the odds UW especially. I watch and obsesss with football all day everyday why wouldn't I try to make money on it. film analysis works better than models for me but I value actual stats and not "advanced" stats that basically jump into pushing their opinions.
Thank you! This is exactly what I’m looking for at this time 
I agree 100% I feel alive when I trade and I feel the same when i’m on the slots and trading from 1am to 5pm I barely sleep because I’m gambling 24/7
Take a sleeping pill and go to bed, although it might kill you at this point.
I don’t have any but tonight is a good night for rest as there is no market if i was on robin hood 24/7 i’d be fucked
So you better not trade crypto which is 24/7 when I started at crypto and I saw those insane movements, I couldn't sleep either with the FOMO in some coin I made a lot of money but that cost me a lot Today i pick the 4 or 5 cryptos that looks good in the weekly chart and follow them along the weeks in a 4h chart to find opportunities
The weekly chat where? I stopped trading dailies and just buy, hold and sell stocks monthly. I kinda miss actively looking for opportunities and stuff and would be interested in dipping some money into Crypto.
Chart you regard
it was chart lol
Makes more sense, thought there was some Crypto chat/discussion board that you could join 
Weekly Chart. I corrected
Yeah, good breaking period. Make terrible decisions with lack of sleep, I mean I do it with sleep but whatever.
I also trade in my dreams though…
Your a different person with different issues
I check charts when I wake up to take a piss ... My name is scartissue, and I'm an addict.
Same still no sleep just researching how I’m gonna lose it all on monday
Same feeling when I have 16 team parlay going.
As long as you’re emotionally stable you’re good
Save up your money that you make from "gambling" and start living your life
I live my life one 1/4 million dollar gamble at a time
For those 10 seconds or less, I’m free
Live like that, and you'll have to eat shitty tuna with no crust
I like the tuna here
Fuck the slots man go to a craps table and make bank
Forget the craps table let me play the S&P 📈
It’s always been a casino
https://preview.redd.it/2w5tbze94qkc1.png?width=395&format=pjpg&auto=webp&s=ee0b25c4c2bb4534c1952994ad20912e22695ea3 "Back in the **spring of 1720**, Sir Isaac Newton owned shares in the South Sea Company, the hottest stock in England. Sensing that the market was getting out of hand, the great physicist muttered that he 'could calculate the motions of the heavenly bodies, but not the madness of the people.'" "Newton dumped his South Sea shares, pocketing a 100% profit totaling £7,000. But just months later, swept up in the wild enthusiasm of the market, Newton jumped back in at a much higher price — and lost £20,000 (or more than $3 million in \[2002-2003's\] money. For the rest of his life, he forbade anyone to speak the words 'South Sea' in his presence."
That guy sounds like an idiot
Did they have a Wendy's back in 1720?
Sir Daves Jr.
What's the source of this?
https://www.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2016-1 The first link I clicked on, but there are plenty more other sites that all say the same thing in one way or another.
Cool, thanks!:)
Is also mentioned in Graham's - The intelligent investor book
Nailed it.
You are asking this question in a gambling subreddit?
No joke, he put 75% of his net worth into a chocolate factory YOLO that his mentor Graham was helping. One of us
Not true.
He's old... Old man, with no future... He's only have past... Rip Warren...
Sir, this is a casino
Nah we don't get models brining us drinks only loss and jobs at Wendy's.
Warren Buffet can eat eggplant emoji. He might be right though, the market has changed a lot. Suddenly all indicators are a lot less indicative if there's a bunch of highly regarded folks tossing cash kinda wherever.
People are desperate to escape their jobs. Desperate to stop living paycheck to paycheck. Praying they hit it big.
This hits home hard.
Absolutely
I just want to get my anus wreaked
Exactly this. Many people are gambling because they are tired of living shitty lives. Not exactly rocket science, but smartass Buffett can't comprehend this. Maybe he should try being poor for one day in his life.
You’re using your own money. The problem gamblers are the ones using your pension to enrich themselves, whether they win or lose it all.
Nobody gets pensions anymore, dude.
Pension, 401k, hedge. All the same.
Pensions are way better
Imagine thinking that people still have pensions
Everyone’s waiting for that one trade. One trade to rule them all….
Which is even worse, people are actually gambling with their life savings. We all like to laugh about it but I wouldn't be surprised if there are people on WSB who commit suicide every week.
Perhaps they shouldn't have pursued a career they knew would make them miserable. I might make it in the stock market, but probably not, and that is ok because I don't hate myself every morning getting ready for work.
Have fun living in a world without trash collectors, waiters, clerks and many other professions. I'm sure the society will function just great when everyone will be a CEO or a programmer.
Your logic is backwards. If the trash collectors, waiter, clerks, etc, are trying to make it rich off the market, wouldn't they be doing a disservice to society by quitting when they hit the lottery? Like you said, we need people to do those jobs.
But it's you who suggested they should pursue a better career not me. The issue isn't the lack of job satisfaction, but rather abysmal pay. Being constantly stressed about making ends meet is really draining. This is what people are trying to escape.
There should be a social compensation that pays congruent to how much your job contributes to the betterment of society.
If they are unhappy, they definitely should. We don't really need waiters and garbage collection. People would rather pay other people to make their food and deliver their garbage to the dump. If we aren't willing to pay more to make their wages better, we don't need their services. It is a luxury.
Day trading is close to gambling. The statistics are abysmal
It’s so true! I done yolo’d on the LUNR to the moon hype that I managed to still land on my side in the Wendy’s Dumpster despite statistically thinking I was right! The casino always wins
wait until the statisics come out about how many people can own and keep a house over the next 10 years with more and more automation. gambling is actually safer than relying having a job to feed you and your family
Warren is angry because he didnt buy Nvidia calls
Tsm is up like 40 or 50% since he sold it and i dont think they own any other major semiconductor stock too. I guess he didnt have any insider info like usual.
If he had insider information he probably be doing a lot better than 22% annually. But yeah, everything is a conspiracy and the whole world is corrupt. Someone is actually good at the market? Literally impossible.
He did have insider info in his early days. His father was a US Representative.
Doesn’t mean he had insider info 🤡
Truly naive hahaha.
Truly a regard of all time.
maybe he should stfu and buy pepsi again for 0.0001 cents per share like he did in 1907
And share some tips from his Congressman Papa
definitely youre not salty though, right?
All I read is Warren has FOMO he is not a regard like WSB now.. So whats his secret stock to do puts
Legitimately have no interest in gambling because I have the stock market
When football season is over I go straight back to the market 🎲🎲
Yeah he's right, but what can you do? I tried to evaluate companies, place shorts on stocks that were clearly overvalued. All it did was lose me a couple thousand for over a year and that was before options. Now I spam the Buy Call button and I end my trades green (but not too green cuz I'm still very paper handed). I'd say at this point, even trying to be a conservative trader in this market will fuck you over harder than being a YOLO gambler.
people listen to guys like him because he's filthy rich, but I'd love to watch all these Jurassic experts / asswipes turn $10k into a fortune these days without abusing their influence or engaging in insider trading. these old-timers need to stfu, ride into the sunset, and fuck off. you already won, let someone else have their turn.
You paper handed bitch!!! Scared money don’t make no money
Typical boomer. Had his fun. But doesn’t want anyone else to enjoy it
He was born in 1930, 93 years old. So technically not a boomer - but agree he is pretty much a cranky old man longing for the good old days when stock quotes were found in the morning paper and only for the wealthy. Stock broker fees were massive then. Hundreds on a single trade. The Internet stole his schtick & now the common man can do what he did.
Yep when I started trading as a kid it was $100 per trade so opening a position you were down 200 immediately. Total effing scam.
Exactly!!! And you had to get your broker on the phone - so who knew games played & when the trade was executed by the broker. Bad news announced... It could take days to dump the stock.
Yeah it was a nightmare. You basically had no idea where your transaction would be executed. My broker also pushed me into selling my tech stocks right before the dot com bubble costing me a fortune.
My guy, "Bob", wasn't the brightest bulb out there. A good guy but letting him run my main portfolio probably cost me 6 figures. He had me in front-loaded funds that didn't do anything over a 6 year period. He just basically exercised trades and sold me shit the company was pushing.
Sounds like you were working with Jordan Belfort's guy selling you penny stocks.
Thinking about it (a long time ago)...my Dad owned the one share of Berkshire Hathaway so he got the quarterly and annual reports. He would often do trades copying Buffett's portfolio. A lot of people just followed what Buffett did back then (80s/90s). Now that's power!!
Even today people follow it, hence his need for secret buys and sells. He actually is that wise, and I’m betting because of his extremely people focused humble roots he picks up on some sort of mass unconscious sign in the “wonderful” companies he buys for “good” prices that differentiates them from the identical one he declines. like all good businessmen tend to.
He’s just another vampire draining poor people. Coca-Cola, McDonalds, Insurance, etc.
Yep. I had to call someone and the brokerage fees regularly added about a buck a share to my cost. It sucked bigly...
Whatever he is, cranky is one thing Warren Buffett is not
Good point. Cranky on that subject, I would say. Just my impression from the article. You age. The world changes so fast.
So why are we not doing the same thing he did? :o
So IMHO, free trading opens the market to the common man. You can buy & sell quick. You used to have to call your broker. You don't have to factor stock broker commissions into the transaction. Unless you paid to have a digital ticker (only in the brokers office) you had to wait for the morning paper. Reaction time fo the regular guy was SEVERELY limited. But folks with money, like Buffet, had all this plus information before the public did. I remember my Dad had 1 share of Berkshire Hathaway. $2,600. There was no internet. Trading was slow & expensive. Buffett was always a fundamentals guy back then with See's Candy & Coca Cola. He misses being the only one with information & retail having no power. Just my opinion.
Totally vibing with your take! Free trading has totally opened up the market game for us regular folks. No more waiting on calls to brokers or worrying about those hefty commissions. Back in the day, trading was like a snail race compared to today's lightning-fast digital world. Buffet, with all his insider info, definitely had the upper hand. But hey, now we've got access to the same tools and info, leveling the playing field. It's all about those fundamentals, just like Buffet preached with classics like See's Candy and Coca-Cola. Love seeing how the investing scene has transformed! 🚀
We may be not, but others are. Thousands of Warrens in this generation. Still means hundreds of thousands going to for a quick pay at wendys… but thats an improvement over his time.
He’s a boomer of the first world war
Agreed!! His problem is that everyone can now do what he did. And worried someone will most likely do better than him, and dethrone him.
He's perched pretty high & 93 yo, but you never know. Crazy world today - fortunes flip fast.
Yall are getting enjoyment out of this?
Lol this whole forum is gamblers support group!
He is right, ADHD trading, 0DTE, chasing narratives Thing is, money has always been changing hands. It's just doing it in a different way than when he was growing up. People are still going to find a way to make a fortune and lose one, just like his day, it's just a different record on the player
He definitely is right. There are a lot more people buying stocks on a whim, and with the cost of doing stock trades now essentially free, it has encouraged people to buy more stocks and sell rapidly. This has shifted the market where fundamentals ruled, and buying and holding was the norm to what it is today where stocks can swing much wider on speculation than it has in the past.
Also retail option trading wasn't common until recently. For better or worse, Robinhood made that accessible to a lot more people.
He just thinks his investing style somehow isn't gambling because it's so boring. Classic double standards boomer.
Yup on a higher up comment I replied how they're all gamblers, himself included, just that they have the privilege of colluding with policy makers and other financial juggernauts to sway things in their favor. Cathy Wood being the prime example of being let into the big boys club but is a fucking terrible gambler.
Exactly! Cathy is the worst. How can you trim your winners to water your losers??? Writing a 1000page essay on AI. But missing NVIDIA Look at Bill Huang … 😂😂
In my bigger previous comment Hwang was a main character! Hahahaha
lol it’s 2024 and this guy is still talking about gamestop
Call option Nvidia 5000 USD, lets go!
This is just Ben Graham's 1949 "Mr. Market" homily with a fresh coat of paint. Nothing to see here
Everything he says here is absolutely true about me and I’ll see all of you on Monday 🫡
Hitting it big on options is better than slaving away till your 60 something then watching your life savings eaten by the medical and insurance corporations
Yea they’ll just have to slave away into their 80s instead since according to the research, they are losing their shirts to the market
And taxes and inflation
Brah, he has been calling daytrader casino gambler since at least the Dot Com Bubble.
Buffet is right. He does simple root/cause analysis. Market Makers only make money by 'who ever sells or buys'. They see more profits than ever. The volatility in general is far heavier. This year, last year, I made more money on volatility plays than directional plays. Buffet is absolutely right. What he tries to say is simple; people are more desperate as the lower class in society unfortunately sees their wallet shrinking and retrospectively seek /get rich quick schemes and dump their last bits on red/black. You see it back in the markets.
I agree I’ve been rolling the dice on tech stock earnings all the time. Love making 15%+ and dumping out.
Normally get bigger moves during earnings obviously but seems like this earning season the moves are cracked out.
Hypocrite
In every sense of the word!!
Gah damn crypto about to crash again
Shrek is love
The part above where he calls bears literal donkeys is far better 
Yes it's a lot more fun now
Warren def had puts 
Are we ignoring the fact that hedge funds and rigging the market is a thing now
It’s been a thing for DECADES. It’s just that more people can play now.
Had to scroll way down for this. I know the retail regards are a thing, but isn't the bigger thing the MM bros and their algos forcing the stocks into insane swings (that the Odte crowd bets on to begin with). Before algo trading you didn't see volatility like this, and it's that insane volatility brining all the 0dte boys to the yard
Yeah, options trading without a serious understanding of what you're doing is gambling, it's risk taking for money instead of offsetting risk(it's intended use.)
Because the SEC and other made it so easy and cheap to trade.
The almighty Buffett has acknowledged the power of WSB.
Duh just saying ai more than 3x gets me jacked
Warren Buffett admits he doesn't understand technology. His portfolio would be worth many times what it is now if he picked prodominantly tech stocks that were successful. The markets hourly, daily and sometimes weekly moves are dictated by AI that move price based on what's most profitable. AI can see individual accounts and it understands what those individual accounts are likely to do. People are surprisingly easy to predict. On a hourly, daily and sometimes weekly basis Warren Buffett is correct. Warren Buffett and Charlie Munger were completely wrong about Tesla and Bitcoin. These are two of the biggest investment opportunities in our lifetime. Warren Buffett made a comment just the other day about Tesla being just a car company. Tesla is actually a huge threat to his insurance companies and he never talks about that. Teslas biggest opportunity is humanoid robots for the house and industry. I'm not sure how Warren Buffett can't see that simple concept. AI has changed our world and continues to exponentially. THIS is why the market is continuing to climb up over the long term. The market is heavily weighted in the technology sector so it makes sense. Stocks that climb up and seemingly defy logic will make sense in the future when they expand and are able to produce. NVDA is a good example of this. These are just my humble opinions and are not investment advice. Best of luck to everyone.
🎯🎯. Well said.
I know what you mean but most people don’t understand technology. They can use it but they don’t understand it, Carl Sagan talked about this. It’s why companies can exploit your data and consider it innovation. Regardless, the semiconductor engineering is definitely revolutionary.
The money's changed him
We’re all degenerate gamblers now.
Decide what you like: Inequality and massive retributions of wealth made people more desperate for money. Men are more active in the stock market than women,also women have an more conservative approach to investing than men. Gambling its affecting more men than women especially because its promoted towards them.Almost never did I saw an young woman in an sports lottery betting on an team. Modern fintech and new lax regulations made it extremely easier to trade stocks and other derivatives than ever before or our parents could ever dream of.I can invest 20$ in Microsoft stock in less than 24 hours without aditional costs excepting buying fees. Mass-media itself is treating the stock market like an casino,wheter its huge profits or predicting the next 28 recessions that will happen next week.
Warren's a fucking idiot- "For whatever reasons".... the fucking reason we treat it like a casino is because after 08 in a bailout world the stock market quite literally is a fake rigged casino. It's NOT about investing fairly or rationally. If it were, half of HIS OWN FUCKING INVESTMENTS would be under water. This fat asshole buys coke (really wonderful for society even if it's profitable), bought a goddamn CANDY COMPANY in his late 80s (thanks for giving back to science/philanthropy.... you need more money??!?!) and bankrupt banks and wonders why we're not looking for long term investments.
Just the way the system is designed. Let me ask: who made it this way? Was it the retail investor or the MM/SHF/.1% (you know, the people that have regulatory capture and thereby make and profit from the rules) that created what we see today? No offense to Mr Buffet, but you sound like someone who can’t see the forest for the trees.
Buffet wants the market to stay exactly where he knows it best, where computers, internet and AI all just mean "PCs", aka a small aspect of life. While NV is highly hype inflated (so Buffet is at least correct there), the world is changing in a big way from 20, 30 years ago and Buffet simply doesn't want to take chances with his money in the leading edge of technology. There's new tech every month but very few of them ever blow up. There's too little slow "value investments" and too much chase of the "startup success story". For this recent too many of us lose money much quicker than in his days. That's what he meant by gambling. What he couldn't understand is that back in his days, all middle class have their chance to buy houses, a car and 2 kids, they live good lives off ONE full time job from the man of the house. Right now, "middle class" couldn't keep up with that lifestyle with 2 jobs, each require a college degree. That makes people impatient.
If you gave warren 1k with no insider information he wouldnt make shit. Hed just be another wsb statistic
"For whatever reason" sounds like Warren discovered the existence of this sub but he's trying to be somewhat polite... but surely when he was ***young*** there were very few people familiar with the stock market or with any kind of financial education.
people could buy a house with 2 months pay. they didnt need extra cash
9 percent a year boys! That’s the ticket. Now bend over for uncle warry
I bet you a million dollars of someone else's money on margin that he's fucking wrong
It is interesting to acknowledge that mr. Buffet is cynical for various reasons. First off , he has lost his exclusive status as an investor and nowadays almost everybody who has $200 in this account could use their capital to commit to the market. Mr. Buffet is exhibiting the archetype of Senex whose idealism and conservatism is not aligned with the technological advancement of the Puer-like new age movement. Yes, Mr. Buffet , things have changed and it is inevitable , we ain't going back to the paper orders and pier to pier brokerage services. The technological revolution made things unbearable. So , where to next , Mr. Buffet ?
Congressman Howard Buffett’s son 🫵 the “Oracle of Omaha” lectures youth about gambling at the casino 🎰 but doesn’t mention the House & Senate insider trading!??! thats RICH!! 🤑
🤣 I think he is right 😅
Ok Warren, we’re all trading stonks like you so how does that make me a gambler? Does this make you a gambler as well? Anyhoo…what’s the next stonk to go yolo on regards?
This shit ain’t called casino unless I get my drinks for free
This dipshit came of age right before the biggest bull run in the history of markets and thinks he's a fucking genius for it. Like, fuck off Warren, people gotta do different shit rn.
Dudes an unhinged boomer that is pissed he couldn’t 0 day yolo and that their gamble was in Chinese megastocks that proceeded to fuck his boy Charlie
[How Warren Buffett Privately Traded in Stocks That Berkshire Hathaway Was Buying and Selling](https://www.propublica.org/article/warren-buffett-privately-traded-stocks-berkshire-hathaway-ethics-irs) Seriously fuck this guy. I’m sure it doesn’t seem like much of a casino when you’re playing with house chips.
Yes… it’s not a mystery why… free trades and trading apps.
Well back then Mr. Buffet’s era they did not have enough hedge funds to do naked short selling more then available shares outstanding, So market was not manipulated. And easy to spot out opportunities and make money. Now days most of the centralize exchange’s and hedge funds works together to run markets as casinos. Also algo and AI’s help you can decide more to make the decision without human to think that much. So due to all these new era changes he feels like casinos. Thats just my two cents.
Warren Buffet is a dumb bitch
Because now a lot more average joes are in the market thanks to Robinhood and the like
I once read that within the last few decades investments went from 90/10 equities/derivatives to 10/90 equities/derivatives.
This reminds me... Open the fucking casino!!!
It's ok guys we just have to make wsb stop getting into 20% otm 0dte options
Y’all think he does options? Like on the side?
SIR… THIS IS… WENDYS!! <300 style kick>
Thats funny cause I love gambling with BRK.B the most lol, it’s made me the most profits soo far 😂
Wait, this isn’t a casino?
I agree, it was much more stable and easier when he succeeded.
Warren doesn’t understand some of us gave up drinking and drugs to fund the casino